The short version
- DTCC tokenization service went live on October 28, turning stocks, ETFs and Treasuries held at DTC into 1:1 tokens on Canton and DTCC’s private Besu network, with 34 securities at launch.
- It is for banks and brokers only: 20 DTC participants have signed, including J.P. Morgan, Citi, Bank of America and the app back ends Alpaca, Apex and DriveWealth.
- The crew is watching how much actually gets tokenized, the Stellar link due in the first half of 2027, and Canton Coin at $0.0966, below its 50-day average after launch day.
The DTCC tokenization service is live, and the company that holds almost every US stock just put some of them onchain. The Depository Trust Company, part of DTCC, launched it on Wednesday, October 28, with 34 securities ready to turn into tokens and 20 big firms signed up, from J.P. Morgan to Citi.
DTC holds more than $114 trillion in assets. So what exactly went live, who gets to use it, and why didn’t Canton Coin go up?
Canton Network shared the launch on X a few hours after the release:
.@The_DTCC, which custodies $114T in assets, has launched its Tokenization Service.
Minting digital representations of Russell 1000 constituents, major index ETFs, and US Treasuries, are now live on Canton Network, built with input from 150+ firms.
PR: businesswire.com/news/home/2026…
What Is the DTCC Tokenization Service?
It turns a stock, ETF or Treasury held at DTC into a token backed 1:1 by that security, and back again. DTCC calls the tokens “digital twins”: they keep the same ownership rights, investor protections and economic rights as the original, the release says.
The tokens go to wallets of the firm’s choice and can move peer to peer 24/7 between DTC-registered wallets under the same CUSIP number as the original, according to DTCC’s service page. That page lists 34 securities available at launch; a DTCC spokesperson put their market value at about $30 trillion.
It runs on two chains for now: the public Canton Network and DTCC’s own private Besu network. More chains come in 2027. Stellar is already lined up, with DTC-tokenized assets expected there in the first half of 2027. There is no XRP Ledger link in the plans so far.
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Who Can Use It?
Not you, at least not directly. Only DTC participants, the banks and brokers that clear through DTC, can convert securities. Twenty have signed so far:
- Big banks: J.P. Morgan, Citi, Bank of America, Morgan Stanley, Barclays, BNP Paribas, UBS, State Street.
- Market makers and brokers: Citadel Securities, Fidelity Investments, Edward Jones, Clear Street, Marex.
- App plumbing: Alpaca, Apex Clearing and DriveWealth, the firms that run the back end of many trading apps.
That last group is the one to watch for retail. If the tokens ever reach an app on your phone, they will most likely come through firms like these. Wallet and tech partners include BitGo, Fireblocks, Talos, Tradeweb and Ondo.
Why It Matters for Crypto
Because the DTCC tokenization service builds the regulated pipe. Until now, most tokenized stocks in crypto were wrappers: a company buys the share and issues its own token. DTS makes the token at the source, under an SEC no-action letter from December 2025 that covers Russell 1000 stocks, major index ETFs and US Treasuries.
It also moves fast for Wall Street. The first live trades with tokenized DTC assets ran on July 15 with more than 30 firms, covering collateral pledges, securities lending and Treasury repo. Three and a half months later, it is a product.
“This is only the beginning,” said Nadine Chakar, DTCC’s global head of digital assets. The real test is volume: how many of the 34 securities get converted, and how much collateral starts moving around the clock.
SIDE TRAIL: Tokenized Nasdaq-100 Fund JQQQ Launches on Stellar
Canton Coin Price: Did It Sell the News?
It did. The Canton Coin price (CC) closed launch day lower and trades near $0.0966 at the time of writing, down 3.3% in 24 hours and 26% over 30 days. CC sits under its 50-day average at $0.1120 and its 200-day at $0.1303, and the September low near $0.0900 is the support that matters.
That fits how the network works: banks don’t need to hold CC to tokenize a Treasury. Canton’s case rests on activity, not launch headlines.
TRAIL MAP: Real-world assets (RWA) in the Base Camp glossary
In crypto since 2017. A technical trader with years of experience in DeFi and onchain data.
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