@OndoFinance has completed what appears to be the first live issuance of tokenized stock representations built on the @The_DTCC Tokenization Service, marking a concrete milestone in Wall Stre
@OndoFinance has completed what appears to be the first live issuance of tokenized stock representations built on the @The_DTCC Tokenization Service, marking a concrete milestone in Wall Street's push to move securities onto blockchain infrastructure.
The issuance records digital representations of DTC-held securities, including $CRCL (Circle Internet Group) and $SPY (the SPDR S&P 500 ETF), delivering them to participant wallets as $CRCLon and $SPYon. CRCLon is the Ondo tokenized version of Circle Internet Group, designed to give holders economic exposure similar to holding $CRCL, while reinvesting dividends net of withholding taxes.
The DTCC Tokenization Service allows DTC participants to elect to have their security entitlements to DTC-held securities recorded using distributed ledger technology, rather than exclusively through DTC's current centralized ledger. The program aims to give participants the ability to leverage the benefits of blockchain and tokenization technology, including mobility, decentralization, and programmability, without foregoing the protections that a central securities depository provides.
For each token, the DTCC issues a digital twin that has the same CUSIP identification number as the original asset.Regulatory clearance arrived in December 2025 when the SEC issued a three-year no-action letter authorizing DTC participants and their clients to record tokenized security entitlements on distributed-ledger technology alongside the existing centralized ledger.
The DTCC will conduct 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, Goldman Sachs, 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 platform is engineered to convert traditional assets held in DTC custody, currently valued at over $114 trillion, into digital tokens while preserving every existing investor entitlement, legal safeguard, and ownership right.Ondo has also integrated Chainlink price feeds for its tokenized stocks on Ethereum, making assets such as $SPYon usable as collateral in DeFi lending markets.
Alongside the regulatory push, Ondo is distributing $67 million in annualized yield to holders of its tokenized products. The firm also recently acquired a US broker-dealer, a move designed to bring compliance capabilities in-house rather than relying entirely on third-party partners.
Sources:CCN: DTCC to Launch Tokenized Stocks, ETFs and Treasuries in July 2026DTCC Official: DTCC Advances Development of New Tokenization ServiceCrypto Briefing: Ondo Finance Files SEC No-Action Letter, Joins DTCC Consortium
