DTCC Launches Tokenization Service on Canton and Private Besu

The Depository Trust Company, a DTCC subsidiary, launched the DTCC Tokenization Service on October 28. The service lets eligible users mint tokenized representations of securities held at DTC and convert entitlements between traditional and tokenized form. DTCC says the tokenized entitlements retain the ownership rights, investor protections and economic entitlements of their traditional counterparts.

The service initially connects to the Canton Network and DTCC’s private Besu network. Additional networks are planned for 2027. Twenty DTC participants, including Bank of America, Citi, Fidelity Investments, J.P. Morgan, Morgan Stanley, State Street and UBS, have signed agreements to access the service; DTCC said further users will be onboarded on a rolling basis.

The SEC’s December 2025 no-action letter limits the authorized pilot to three years and defines eligible assets as specified Russell 1000 shares, major-index ETFs and U.S. Treasury securities. The launch establishes production infrastructure, but signed access agreements do not show that every participant has already tokenized or transferred assets.

Sources

• The Depository Trust & Clearing Corporation via Business Wire
• U.S. Securities and Exchange Commission

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