Wall Street's Biggest Names Back DTCC Tokenization Push The Depository Trust and Clearing Corporation (@The_DTCC) is moving ahead with one of the most consequential experiments in the history
The Depository Trust and Clearing Corporation (@The_DTCC) is moving ahead with one of the most consequential experiments in the history of US capital markets. The clearinghouse will begin limited production trades of tokenized real-world assets in July 2026, bringing Russell 1000 equities, major ETFs, and US Treasuries onto blockchain infrastructure for the first time through a pilot backed by more than 50 firms, including @BlackRock, @GoldmanSachs, and @JPMorgan.
A full-service launch is scheduled for October 2026, with the initiative spanning both traditional finance and crypto-native firms including Circle, Ondo Finance, and Ripple Prime.
The Depository Trust Company, part of the DTCC, manages over $114 trillion in securities, making the scope of this pilot difficult to overstate. The goal is to create tokenized entitlements that retain the same legal and ownership rights as current book-entry holdings.
DTCC received a no-action letter from the SEC on December 11, 2025, greenlighting a three-year pilot program for tokenizing securities held at the Depository Trust Company.The letter provides a three-year regulatory runway for participants to build and deploy tokenized securities without triggering existing custody and transfer agent rules.
Traditional settlement in US equities currently takes one business day (T+1), a cycle that was only shortened from T+2 in 2024. Blockchain-based settlement could compress that timeline further, potentially to near-instantaneous.
On May 27, 2026, DTCC also announced plans to integrate with the Stellar blockchain, with tokenized assets expected to be available on Stellar by the first half of 2027.
According to RWA.xyz data cited in May 2026 reports, tokenized stocks grew from $375.4 million in May 2025 to approximately $1.21 billion in May 2026, demonstrating rapid institutional appetite for on-chain exposure to traditional assets. The DTCC pilot arrives at a moment when market demand for tokenized real-world assets is accelerating sharply.
The three-year pilot window suggests regulators want to move cautiously, and the no-action letter is not the same as a permanent regulatory framework. Even so, the breadth of institutional participation signals that the push to bring traditional securities onto blockchain rails has moved well beyond the experimental stage.
Sources:SEC Staff Issues No-Action Letter for DTC's Tokenization Pilot - Global Fintech and Digital Assets BlogDTCC nears live demonstration of asset tokenization for securities - Crypto BriefingDTCC Partners with Digital Asset to Tokenize DTC-Custodied US Treasury Securities - Winston and Strawn
