DTCC launches tokenized securities service with 20 Wall Street banks

The Depository Trust Company has commercially launched its Tokenization Service, onboarding 20 major financial institutions from day one. With $30 trillion in eligible securities, tokens can move between registered wallets around the clock, but they cannot yet settle transactions or serve as collateral without converting back to book-entry form.

• DTC custodies $114 trillion in assets, with $30 trillion in securities eligible for tokenization
• Tokens are minted via ComposerX Factory as digital claims on securities held by nominee Cede & Co.
• Token transfers between DTC-registered wallets run 24/7 with a target processing time of 15 minutes or less
• Tokens travel on Digital Asset's Canton Network and DTCC's Besu chain; BitGo, Fireblocks and Taurus handle wallets