DTCC Tokenization Service Runs on Two Blockchains, Plans Expansion in 2027

DTCC’s tokenization service currently runs on Canton Network and DTCC’s private Besu network, with plans to support more blockchains in 2027. According to Odaily, Morgan Stanley has tokenized U.S. stocks and Treasuries through the service, which converts securities held by the Depository Trust Company (DTC) into digital twins that can be converted back into securities while retaining ownership rights, investor protections and economic interests. Twenty DTC participants have signed up, including Bank of America, Citigroup, JPMorgan Chase, Fidelity, Citadel Securities and UBS. DTCC said the service was developed with input from more than 150 institutions. The U.S. Securities and Exchange Commission issued DTC a no-action letter in December 2025 allowing it to tokenize Russell 1000 constituent stocks, major index ETFs and U.S. Treasuries.