DTCC Launches Tokenization Service with Wall Street Heavyweights

The Depository Trust & Clearing Corporation (DTCC) is advancing its blockchain ambitions with a new tokenization service, backed by a consortium of over 50 financial institutions. The initiative, cleared by the SEC via a No-Action Letter, will convert $114 trillion in custodied assets into digital tokens while maintaining traditional entitlements and ownership rights.

Wall Street's elite—BlackRock, Goldman Sachs, J.P. Morgan, and others—join digital natives like Circle and Kraken's parent Payward in the working group. The project signals institutional momentum for asset tokenization, bridging legacy finance with blockchain infrastructure.

Market infrastructure players including NYSE Group and Nasdaq lend further credibility to the venture, which could accelerate mainstream adoption of tokenized assets. The DTCC's custodial scale positions it as a natural arbiter between TradFi and crypto.