DTCC, at the center of U.S. securities markets, has launched a service that enables tokens backed by real stocks and bonds to be transferred 24/7 between registered wallets.
According to CoinDesk, Depository Trust & Clearing Corporation (DTCC), which provides clearing, settlement, and custody infrastructure, made the service available on October 28. Twenty institutions have signed agreements to access the system, which will initially operate on Canton Network and DTCC’s private Besu blockchain.
Participants include JPMorgan, Bank of America, Citi, Barclays, Morgan Stanley, UBS, Fidelity Investments, Citadel Securities, and State Street. These agreements cover access to the service; no figures were disclosed on how much of their assets the institutions have tokenized.
What Does the $30 Trillion Figure Represent?
At launch, 34 securities are eligible for tokenization, including shares of selected large companies in the Russell 1000 Index, ETFs, and U.S. Treasury securities with various maturities.
According to a DTCC spokesperson, the total market value of these securities is approximately $30 trillion. The figure represents the value of the assets that could be included in the service, not money moved onto a blockchain or trading volume.
With more than $114 trillion in securities held at DTCC’s depository, the new service is more than a standalone crypto product—it is a step connected to traditional market infrastructure.
Real Securities, Transfers Around the Clock
The tokens are backed one-for-one by securities held at DTCC subsidiary Depository Trust Company (DTC) and preserve the existing rights attached to those assets. Official ownership records will continue to be maintained at DTC.
Eligible institutions can tokenize their securities during business hours. DTCC is targeting a processing time of 15 minutes or less for these transactions. Once tokenization is complete, the assets can be transferred around the clock between registered blockchain wallets subject to compliance rules.
This structure differs from synthetic tokens that only track a stock’s price: These tokens represent actual securities held in custody. The service’s 24/7 transfer feature does not mean that round-the-clock stock trading open to all investors has begun.
Two New Networks in the 2027 Plan
DTCC plans to add Stellar and Circle’s Arc blockchain to the service in 2027. The roadmap also includes tools for settling transactions with digital money and using tokenized securities as collateral.
The service follows the SEC’s no-action letter issued last December for the tokenization of certain securities. The infrastructure, which was previously demonstrated and announced as a plan in May, has now moved into live use.
Not investment advice.