Morgan Stanley announced today through its official account that it has become one of the first banks to connect to DTCC’s tokenization service, DTS, converting some U.S. stocks and Treasury securities into on-chain form. The key point is the list. Twenty institutions signed the initial participation agreement, including Morgan Stanley, JPMorgan Chase, Bank of America, Citi, Barclays, UBS, and Fidelity. Citadel Securities is also among them. DTS was launched by DTC on October 28, initially covering 34 securities with a combined market value of about $30 trillion. That figure refers to eligible securities, not the amount already tokenized; no figures for tokens minted or transfers made were disclosed on the first day.
What has really changed is the timing and the collateral. Conversions go through DTC’s channel, which is open on business days from 2 a.m. to 6 p.m. Eastern Time, with a target completion time of 15 minutes. Once securities are converted into on-chain form, they can move between wallets registered with DTC 24 hours a day. Cross-chain transfers still have to go back through the conversion service. Amy Oldenburg, Morgan Stanley’s head of digital asset strategy, said that practical experience integrating tokenized securities into existing market infrastructure can continuously improve digital asset capabilities. On-chain records do not issue new securities; identification codes, ownership, and economic rights all remain unchanged, and the official books and records remain with DTC.
Morgan Stanley has another card to play: it plans to enable tokenized stock trading on its own alternative trading system in the first quarter of 2027. Changes at the settlement layer typically show up first in collateral turnover, then feed through to quote depth. $BTC is currently around 78,600, up about 2% over 24 hours.
#市场结构 #Institutional moves
What has really changed is the timing and the collateral. Conversions go through DTC’s channel, which is open on business days from 2 a.m. to 6 p.m. Eastern Time, with a target completion time of 15 minutes. Once securities are converted into on-chain form, they can move between wallets registered with DTC 24 hours a day. Cross-chain transfers still have to go back through the conversion service. Amy Oldenburg, Morgan Stanley’s head of digital asset strategy, said that practical experience integrating tokenized securities into existing market infrastructure can continuously improve digital asset capabilities. On-chain records do not issue new securities; identification codes, ownership, and economic rights all remain unchanged, and the official books and records remain with DTC.
Morgan Stanley has another card to play: it plans to enable tokenized stock trading on its own alternative trading system in the first quarter of 2027. Changes at the settlement layer typically show up first in collateral turnover, then feed through to quote depth. $BTC is currently around 78,600, up about 2% over 24 hours.
#市场结构 #Institutional moves
