The most fundamental “custody ledger” on Wall Street is officially on-chain as of today.
The DTCC website’s Tokenization Service product page now says, “The DTCC Tokenization Service is live.” It lists a few figures: 34 securities available for tokenization at launch; approximately $30 trillion in assets under DTC custody; tokens backed 1:1 by securities held by DTC; and 24/7 on-chain, peer-to-peer transfers between wallets registered with DTC.
Compare that with the launch list it published on October 16: back then, it said 25 securities would be available at launch; today, 34 have gone live. The networks are still the same two: Canton and DTCC’s own private Besu chain. Stellar ($XLM) and Circle’s Arc remain slated for 2027, in line with the earlier roadmap.
Three points I picked out:
First, the same CUSIP. The token and the traditional book-entry share represent the same asset; the legal rights, economic interests, and protections remain unchanged. It’s not a “mirror coin”—it’s the original asset recorded in a different way.
Second, transfers take place only between DTC-registered wallets, with compliance controls built into the token. The chain is new, but the gatekeeping is the same.
Third, institutions are the first to benefit: collateral liquidity and settlement efficiency. The direct impact on retail investors is limited in the short term.
Quite a few posts today are directly linking this to the prices of certain coins. This looks more like infrastructure being switched on than a price trigger.
Issuers, exchanges, and clearinghouses—all three layers have now moved. The tokenization of US stocks has gone from testing to live operations.
Source: DTCC website, Tokenization Service page (October 28). Not investment advice.