DTCC's tokenization service launches with 25 securities, backed by roughly $30 trillion in underlying assets
Background
Background
CUSIP is a nine-character identifier that uniquely identifies a North American security for clearing and settlement, which is why matching the original CUSIP matters for tokenized claims on the same asset. CIP-56 is Canton Network's token standard, a set of Daml interfaces and off-ledger APIs that let wallets and applications handle tokenized holdings and transfers uniformly across registries. Hyperledger Besu is an open-source, Java-based Ethereum client used for both public mainnet and permissioned EVM networks supporting ERC-20 tokens.
According to materials published by DTCC, its tokenization service has opened with 25 tokenizable securities whose underlying DTC-custodied assets total roughly $30 trillion. The tokens correspond 1:1 to the original securities, carry the same CUSIP, and can be transferred peer-to-peer 24/7 between registered DTC wallets subject to compliance transfer restrictions, while DTC remains the official book of record.
Because the tokens keep the same CUSIP and the same rights and investor protections as book-entry securities, a slice of DTC-custodied assets — including Treasury coupon and maturity servicing — now runs on blockchain rails without DTC ceding its role as the official record keeper.
The first supported assets are Russell 1000 constituents (starting with some large-cap stocks), selected ETFs and U.S. Treasuries; Treasury interest and maturity servicing will occur on-chain, with payments made in fiat to participants' traditional accounts. Initial networks are Canton Network (CIP-56) and DTCC's private Besu network (ERC-20), with Stellar (SEP-41) and Circle's Arc (ERC-20) expected to connect in 2027.
telegram · foresightnews · · 2 sources
Analysis and references
Impact analysis
The transmission channel runs through tokenization and RWA market structure: tokens issued on Canton and DTCC's permissioned Besu network, with transfer restrictions and DTC as record keeper, set a compliance-oriented template that tokenized Treasury and fund products must position against. The planned 2027 links to Stellar and Circle's Arc tie institutional settlement rails to existing stablecoin infrastructure, widening the set of venues where tokenized cash and securities could interact.
References
Tags
#DTCC#tokenization#RWA#CUSIP#Canton Network#Hyperledger Besu