The DTCC executed its first live tokenized asset trades in production on July 15, marking a historic milestone for American finance. Around 40 firms, including BlackRock, J.P. Morgan and Goldman Sachs, participated in these trades covering collateral pledges, securities lending, repo delivery-versus-payment and equity transactions, all executed on blockchain networks. The DTCC created « convertible digital twins » of US securities on two blockchain networks, Canton and Hyperledger Besu, while maintaining the same ownership rights and legal protections as traditional securities. The DTCC provides custody for 114 trillion dollars in assets as of 2025, and its full Tokenization Service is scheduled to officially launch in October 2026. These trades constitute the largest tokenization effort to date in terms of participant count, asset class variety and range of use cases.
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