20 institutions join DTCC token service, but only 34 securities qualify
DTCC launched its Tokenization Service on Oct. 28, with 20 institutions signed up. Eligible participants can submit orders to tokenize or convert securities during business-day windows, with completion targeted within 15 minutes. Once tokenized, securities can move 24/7 between registered DTC wallets on the same blockchain, enabling weekend transfers if tokens and receiving wallets are prepared in advance. The launch supports 34 select equities, ETFs and US Treasuries, initially connected through Canton Network and a private Besu network. Tokens represent securities held at DTC, which retains official ownership records and underlying legal protections. Transfers do not guarantee collateral acceptance, cash settlement or continuous trading; on-chain netting and digital cash remain on an indicative 2027-or-later roadmap.
