DTCC advances development of tokenisation service
05 May 2026 US, UK, Hong Kong, Australia
Image: Justlight/stock.adobe.com
The Depository Trust & Clearing Corporation (DTCC) has announced progress and timelines on the delivery of the Depository Trust Company’s (DTC’s) tokenisation service.
DTC’s tokenisation service is being designed with feedback and collaboration from over 50 financial industry firms, who are part of the DTCC Industry Working Group, according to the corporation.
Firms participating in the DTCC Industry Working Group are from a cross section of TradFi and DeFi ecosystems and include members such as J.P. Morgan, Citi, BNP Paribas, Broadridge, State Street, HSBC, Nasdaq, and others.
DTCC plans to facilitate the initial, limited production trades of real-world assets tokenised using DTC’s tokenisation service in July 2026 and intends 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.
In December 2025, DTC received a No-Action Letter from the US 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.
Frank La Salla, DTCC president and CEO, notes: “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.”
Brian Steele, DTCC managing director, president, clearing and securities services, remarks: “DTC’s tokenisation service is designed to provide systemic scale where deep liquidity already lives.
"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.”
DTC’s tokenisation service is being designed with feedback and collaboration from over 50 financial industry firms, who are part of the DTCC Industry Working Group, according to the corporation.
Firms participating in the DTCC Industry Working Group are from a cross section of TradFi and DeFi ecosystems and include members such as J.P. Morgan, Citi, BNP Paribas, Broadridge, State Street, HSBC, Nasdaq, and others.
DTCC plans to facilitate the initial, limited production trades of real-world assets tokenised using DTC’s tokenisation service in July 2026 and intends 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.
In December 2025, DTC received a No-Action Letter from the US 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.
Frank La Salla, DTCC president and CEO, notes: “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.”
Brian Steele, DTCC managing director, president, clearing and securities services, remarks: “DTC’s tokenisation service is designed to provide systemic scale where deep liquidity already lives.
"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.”
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