Tokenized assets flowing through an institutional settlement network

DTCC Plans July Production Trades for Its Tokenization Service, October Launch

By Isaac • May 4, 2026 6:57 pm • Comments

The Depository Trust & Clearing Corporation announced on Monday that its subsidiary, the Depository Trust Company, plans to facilitate initial limited production trades of tokenized real-world assets in July 2026. A broader service launch is planned for October.

DTC currently custodies assets valued at more than $114 trillion. The tokenization service is being built for assets already held at DTC, and the tokenized versions are designed to carry the same entitlements, investor protections, and ownership rights as their traditional-form counterparts.

More than 50 firms are participating in the DTCC Industry Working Group shaping the service. The roster spans banks, brokers, asset managers, trading venues, custodians, crypto platforms, and infrastructure providers.

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Named participants include BlackRock, Bank of America, BNP Paribas, Broadridge, Charles Schwab, Circle, Citadel Securities, Citi, Digital Asset, Franklin Templeton, Goldman Sachs, HSBC, Invesco, J.P. Morgan, Morgan Stanley, Nasdaq, NYSE Group, Ondo Finance, Payward (Kraken), Ripple Prime, Robinhood, State Street, TD Securities, UBS, and Wells Fargo, among others.

That list covers virtually every major layer of the U.S. capital markets stack, plus several crypto-native firms that have been building tokenization products of their own.

According to DTCC’s announcement:

DTCC’s announcement said DTC plans to facilitate initial, limited production trades of real-world assets tokenized through DTC’s tokenization service in July 2026, with a planned full service launch in October 2026. The service is being designed with input from more than 50 firms across traditional finance and digital assets. DTC currently custodies assets valued at more than $114 trillion, and the tokenization service is intended for DTC-custodied assets that preserve the same entitlements, investor protections, and ownership rights as traditional-form assets. DTCC also highlighted operational and technical workflow testing for production-environment use, plus interoperability across multiple blockchain networks. The working group spans TradFi and DeFi participants, including banks, brokers, trading venues, asset managers, custodians, infrastructure providers, crypto platforms, and back-office service providers collaborating on the service’s development. DTCC framed the work as a risk-managed path for digital asset use cases inside core post-trade infrastructure, with the production timeline now moving from planning into dated implementation steps.

The interoperability piece deserves attention. DTCC said the working group is developing workflows that span multiple chains, which means the service could connect tokenized assets across different blockchain environments rather than locking them into a single network. For an industry that has spent years debating which chain wins the institutional race, having DTC serve as the connective layer changes the conversation.

A few things stand out about this timeline. July production trades are weeks away. These will be limited in scope, but they represent live, real-asset tokenization running through the same infrastructure that already clears and settles the vast majority of U.S. equities and fixed income. October’s broader launch would put the service into general availability before year-end.

The working group composition tells you where institutional conviction is building. BlackRock and Franklin Templeton already manage tokenized fund products. Circle provides USDC infrastructure. Ripple Prime, Ondo Finance, and Kraken bring crypto-native distribution. Goldman Sachs, J.P. Morgan, Morgan Stanley, Citi, and Bank of America bring the balance sheets and client networks. Having all of them at the same table, working on the same service, is a signal that tokenization infrastructure is consolidating around real clearing and settlement rails.

Tokenization has had plenty of pilot programs and proof-of-concept announcements over the past several years. This is different in a straightforward way: DTC is the entity that actually holds the assets. When the custodian of $114 trillion in securities sets a production date for tokenized trades and names the firms building it out, the timeline becomes concrete. July and October are the dates to watch.

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