The Depository Trust & Clearing Corporation (DTCC) is partnering with Digital Asset to tokenize U.S. Treasury securities on the Canton Network, with a pilot program scheduled for 2026. This initiative will enable the minting and use of tokenized U.S. Treasuries, allowing them to be exchanged in near-real-time with stablecoins and other digital assets.

This move marks the initial phase of DTCC's strategy to integrate traditional assets into blockchain ecosystems, following recent regulatory approval from the U.S. Securities and Exchange Commission (SEC).

The collaboration aims to mint a select group of DTC-custodied U.S. Treasury securities on the Canton Network, a blockchain platform designed for interoperable financial applications. The partners plan to launch a minimum viable product (MVP) in a controlled production environment during the first half of 2026, with potential expansion based on client demand. DTCC will utilize its ComposerX suite of platforms to facilitate the tokenization process.

"DTCC’s partnership with Digital Asset and the Canton Network is a strategic step forward as we collaborate across the industry to build a digital infrastructure that seamlessly bridges the traditional and digital financial ecosystems and provides unmatched scalability and safety," said Frank La Salla, CEO of DTCC. "This collaboration creates a roadmap to bring real-world, high-value tokenization use cases to market, starting with U.S. Treasury securities and eventually expanding to a broad spectrum of DTC-eligible assets across network providers."

The initiative builds on DTC's receipt of a No-Action Letter from the SEC, which allows the implementation of services for tokenizing real-world assets under DTC's custody. Proponents of the project highlight its potential to enhance liquidity, streamline operations, and improve market transparency. Tokenized securities could reduce operational risks, boost capital efficiency, and positively impact balance sheets for participants like market makers and hedge funds.

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https://www.dtcc.com/news/2025/december/17/dtcc-and-digital-asset-partner-to-tokenize-dtc-custodied-us-treasury-securities