Morgan Stanley Tokenizes US Stocks and Treasuries Through DTCC’s New Service

DTCC's new service opened with 34 securities eligible to tokenize. About $30 trillion in assets it says are available to be tokenized. Morgan Stanley said on Tuesday it has tokenized US stocks and Treasuries through a Depository Trust & Clearing Corporation (DTCC) service that went live on October 28. The bank is now among the first ones to tokenize real-world assets following the launch of the DTCC Tokenization Service (DTS). “The hands-on experience of integrating tokenized securities with established market infrastructure will inform the continued development of the firm’s digital asset capabilities as the market evolves,” said Amy Oldenburg, Head of Digital Assets Strategy at Morgan Stanley. Launch Opens With 34 Securities DTS turns securities held at DTCC’s Depository Trust Company (DTC) into tokens, each backed one-to-one by a security in custody. Each token carries the same legal rights and protections as the asset behind it. The platform runs under a no-action letter that Securities and Exchange Commission (SEC) staff gave DTC in December 2025, which limits the service to US Treasuries, Russell 1000 stocks and ETFs that track major indices. DTCC then ran production trad...