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The Depository Trust & Clearing Corporation (DTCC) – the latest TradFi whale making daily waves in the crypto pond – has partnered with Digital Asset Holdings to launch tokenized assets on the Canton Network.
What's the Scoop?
- First Partnership: The DTCC has partnered with Digital Asset Holdings to launch tokenized assets on the Canton Network, its first partner blockchain for upcoming tokenization services. At this time, DTCC expects to mint a subset of the U.S. Treasuries it custodies on Canton. The two organizations are working towards a gated MVP launch during the first half of 2026.
- No-Action Letter: Last week, the DTCC announced that it had received a no-action letter from the SEC to offer federally compliant tokenization services; a "preliminary base version" of DTCC's tokenization services are expected to roll out in the second half of 2026.
- Tech Neutral: The DTCC is opting to remain tech-neutral, and will not forcibly prescribe a particular blockchain or tokenization protocol each tokenized RWA must use. It is likely that additional blockchain integrations and/or partnerships are announced in the future.
- Compliant Option: Any chain that hosts DTCC-sponsored tokenized assets must comply with it's "Tier 2" requirements for critical systems. Canton was one such blockchain previously identified as compatible with these requirements.
Today is a day more than a decade in the making — and a wake-up call for anyone who still thinks blockchain doesn’t matter. Tokenized USTs on Canton by @The_DTCC mark a fundamental shift in how markets will operate going forward. The transformation is accelerating, and this is…
— Don Wilson (@drwconvexity) December 17, 2025
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