The Depository Trust & Clearing Corporation (DTCC) has brought two crypto-sector tokenization developers, @OndoFinance and Hashgraph, the development team behind @Hedera, into its Digital Ass
The Depository Trust & Clearing Corporation (DTCC) has brought two crypto-sector tokenization developers, @OndoFinance and Hashgraph, the development team behind @Hedera, into its Digital Assets Solutions Industry Working Group. The group comes as DTCC's Depository Trust Company (DTC) launches the DTCC Tokenization Service (DTS).
Hashgraph has joined the DTC Industry Working Group, which includes more than 150 members from traditional finance and digital markets. Members discuss how DTS should work and where digital asset markets are heading. Hashgraph says it will share views on industry readiness and standards, operational and technical workflows, and interoperability of DTC-tokenized assets across chains.
Ondo joined earlier. Ondo Finance said it joined the DTCC Industry Working Group on May 4. The group brings together asset managers such as BlackRock and Franklin Templeton, banks including Goldman Sachs and JPMorgan, Citadel Securities, the New York Stock Exchange, and crypto-native firms Circle, Fireblocks and Robinhood.
Genfinity notes that membership has limits. The group does not decide which networks DTS supports, so membership signals participation rather than integration.
DTCC announced the launch on October 28. The first batch covers 34 tokenizable securities, and the tokens are backed 1:1 by securities held in DTC custody, with holders receiving the same legal rights and economic interests as the underlying securities. The same CUSIP code is used in both traditional and on-chain markets, enabling peer-to-peer transfers between DTC-registered wallets around the clock.
According to Markets Media, DTCC also convened a broader digital asset ecosystem of market participants, wallet providers, applications and technology firms to support interoperability and connectivity. Named collaborators and partners include BitGo Bank & Trust, Blockdaemon, Broadridge, DFNS, DRW, Fireblocks, Kaleido, Matter Labs, Ondo, Talos, Taurus, Tradeweb and Virtu, among others.
Ondo has already built on the framework. In July, its CRCLon and SPYon became the first tokenized stocks backed by DTC tokenized entitlements. Genfinity reports that the service launches on two networks: Canton Network, a public network from Digital Asset, and Besu, DTCC's private network. The launch release adds that further networks will follow in 2027.
For the wider industry, the appointments show crypto-native tokenization firms contributing to the design of infrastructure that sits at the centre of U.S. securities markets. DTCC's custody operation holds more than $114 trillion in assets.
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