The Depository Trust & Clearing Corporation (DTCC) has announced a phased timeline for its tokenisation service, with initial limited production trades expected in July 2026 and a full service launch planned for October 2026.

The service, developed through DTCC's industry working group of more than 50 financial firms, will enable the tokenisation of real-world assets custodied by The Depository Trust Company (DTC). Participating firms span custodians, asset managers, brokers, trading venues and application and back-office service providers.

Firms participating in the DTCC Industry Working Group include Alpaca, Anchorage Digital, Apex Clearing Corporation, Backpack, Bank of America, BetaNXT, BitGo Bank & Trust N.A., Bitwave, BlackRock, BNP Paribas, Broadridge, Charles Schwab, Circle, Citadel Securities, Citi, Digital Asset (creators of Canton Network), DriveWealth, DRW, EDX Markets LLC, Fireblocks, FIS, Fi-Tek, Franklin Templeton, Goldman Sachs, Hilltop Securities Inc., HSBC, Interchange Clearing, Invesco, Jefferies, J.P. Morgan, Lloyds Bank, Marex, Mirae Asset Securities (USA) Inc., Morgan Stanley, Nasdaq, NYSE Group Inc., Ondo Finance, Payward (parent company of global crypto platform Kraken), Principal Bank, Raymond James, RBC Capital Markets, Ripple Prime, Robinhood Markets Inc., RQDClearing LLC (RQD), SEI, State Street, StoneX, Talos, TD Securities USA LLC, Tel-Aviv Stock Exchange (TASE), TradeStation Securities Inc., Tradeweb, UBS, Velocity Clearing LLC, Virtu Financial, Vision Financial Markets and Wells Fargo.

"As a global leader in financial services, DTCC continues to galvanise a broad cross-section of industry leaders to facilitate ongoing, robust dialogue that drives widespread digital assets adoption and advances innovation," said Frank La Salla, DTCC president and CEO. "Our vision is coming to fruition: launching our tokenisation service and successfully bridging TradFi and DeFi. We believe tokenisation will significantly change how markets work and operate, bringing new levels of liquidity, transparency and efficiency to investors."

DTC tokenisation service timeline

DTCC plans to facilitate the initial, limited production trades of real-world assets tokenised using DTC's tokenisation service in July 2026 and then plans to launch the service in October 2026. DTCC will continue collaborating with the DTCC Industry Working Group to align best practices, advance industry readiness and prove operational and technical workflows, including the use of DTC tokenised assets in a production environment and their ability to interoperate across many chains.

DTC's tokenisation service will enable the tokenisation of real-world, DTC-custodied assets that provide the same entitlements, investor protections and ownership rights as the assets held in traditional form, supported by DTC's resilience and accountability. Today, DTC custodies assets valued at over $114 trillion.

"DTC's tokenisation service is designed to provide systemic scale where deep liquidity already lives," said Brian Steele, DTCC managing director, president, clearing & securities services. "We continue to collaborate closely with the DTCC Industry Working Group members to ensure that the service is developed in lockstep with the industry's current and future needs as we collectively build the digital ecosystem of the future."

In December 2025, DTC received a No-Action Letter from the Securities and Exchange Commission (SEC) authorising DTC to offer a defined tokenisation service for DTC Participants and their clients for three years. The authorisation applies to a defined set of highly liquid assets, including the constituents of the Russell 1000, which represents the 1,000 largest publicly traded U.S. companies by market cap, as well as ETFs tracking major indices and U.S. Treasury bills, bonds and notes.

"Tokenisation is an important and critical step toward building tomorrow's digital infrastructure," said Nadine Chakar, DTCC managing director, global head of digital assets. "DTCC is committed to remaining at the forefront of innovation and championing a scalable, interoperable and risk-managed Web3 ecosystem that harnesses the power of digital ledger technology and delivers real value to the industry."

Re-disseminated by The Asian Banker