DTCC launches tokenization service with input from 150 firms

The Depository Trust Company's new service lets participants turn select custodied securities into blockchain-based digital twins The plumbing of US securities markets now runs partly on blockchain. The Depository Trust Company (DTC) launched the DTCC Tokenization Service (DTS) on October 28, 2026. Eligible participants can now convert select securities held in custody into tokenized digital versions. This did not come from a garage startup. More than 150 firms helped shape the service, and 20 DTC participants signed on at launch, including J.P. Morgan, Citi, and Bank of America. What the service actually does Think of the tokens as a mirror image of the original security, not a cousin or a knockoff. DTC calls them “digital twins.” Each token matches its underlying security on the CUSIP identifier, the standard code that tags a specific security. It also carries the same ownership rights and economic entitlements. At launch, DTS supported 34 securities. The list includes select Russell 1000 equities, prominent exchange-traded funds, and US Treasuries. Those 34 securities represent approximately $30 trillion in market value. The tokens can move between registered wallets around the ...