Morgan Stanley has reached a preliminary agreement with the Depository Trust & Clearing Corporation (DTCC) to access its tokenization service, launched on October 28. The service enables traditional financial assets to be issued in digital form on a blockchain while preserving the ownership rights, investor protections and economic rights of their conventional counterparts. Morgan Stanley is one of 20 institutions involved, alongside JPMorgan, Citi, Bank of America, UBS, Barclays, State Street, BNP Paribas, Alpaca and Citadel Securities. For now, the service mainly covers Russell 1000 stocks, large-index ETFs and tokenized U.S. Treasury bills. It operates on the Canton blockchain and on DTCC’s private Besu network, with additional blockchains expected to be added gradually from next year.
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