DTCC Tokenization Service: Welcome

The Tokenization Service enables DTC participants—on a voluntary basis—to:

• register wallets
• convert eligible securities from their DTC participant accounts into tokenized assets held in registered wallets

This guide provides information on use of the Tokenization Service to:

• Manage your digital accounts
• View securities eligible for the service
• Register a wallet
• Create a Conversion Order (tokenize a security)

Important

This guide contains screenshots and documentation for the July 2026 event release of the DTCC Tokenization Service. Features and interface fields may change in future releases.

Additional features of the Tokenization Service

• DTC participants may register wallets for use with the service. Tokens are transferable solely between Registered Wallets on the platform.
• Regardless of underlying client arrangements, the DTC participant associated with a Registered Wallet remains the entitlement holder of record.
• Tokenized securities processed through the Tokenization Service remain recorded in DTC’s official books and records.
• The service integrates specific blockchains. Although the service is wallet-agnostic, wallet providers may have integration requirements.

Benefits of Tokenized Transactions

• Tokenized transactions can enable near real-time settlement through atomic delivery versus payment. Securities and cash move simultaneously to reduce settlement risk.
• Tokenization can enable automation by embedding corporate actions and compliance controls directly into smart contracts, allowing them to execute automatically as the asset moves.
• Tokenization offers a significant advantage for specific use cases, such as collateral management. In appropriate market arrangements, tokenized collateral can move high‑quality assets in near real-time across borders and time zones, enabling faster margin response and more efficient collateral use.
• More efficient collateral use and effective liquidity management.

Note

You can read the SEC’s Division of Trading and Markets No-Action letter, which permitted DTC to launch a three‑year pilot to tokenize highly liquid securities, such as U.S. Treasuries and ETFs, beginning in 2026. The program uses whitelisted wallets and a Digital Omnibus Account, with DTC remaining the official recordkeeper.