The Depository Trust & Clearing Corporation (DTCC) has revealed a significant expansion of its digital asset initiatives, announcing an integration between its forthcoming tokenization service and the Stellar public blockchain. This move, detailed in a key update this month, now marks an important milestone in DTCC’s broader strategy to create flexible, interoperable infrastructure that bridges traditional finance with blockchain technology.
In partnership with the Stellar Development Foundation (SDF), DTCC plans to make tokenized versions of assets held in custody by its Depository Trust Company (DTC) subsidiary available on the Stellar network during the first half of 2027.
Stellar, known for its adaptable and open-source design, already supports applications in securities trading, payments, and cross-border remittances.
This connection will facilitate seamless conversion of traditional holdings into digital tokens while maintaining comprehensive management of the asset lifecycle, from issuance through corporate actions and regulatory reporting.
The development builds directly on regulatory progress achieved in December 2025, when the US Securities and Exchange Commission (SEC) issued a No-Action Letter permitting DTC to launch its tokenization service.
This authorization allows the tokenization of real-world assets under DTC custody, promising benefits such as accelerated settlement times, improved liquidity through greater asset mobility, potential for round-the-clock trading, and meaningful reductions in costs and risks.
Importantly, these tokenized assets will preserve the full suite of investor protections, rights, and safeguards that apply to conventional securities held at DTC.
Frank La Salla, President and CEO of DTCC, emphasized the strategic importance of the initiative. He described it as a step toward constructing an accessible digital framework that unites legacy markets with emerging technologies.
According to La Salla, tokenized assets on public blockchains like Stellar can deliver enhanced liquidity, operational efficiencies, transparency, and collateral optimization, all while upholding established protections for participants.
Denelle Dixon, CEO of the Stellar Development Foundation, highlighted the complementary strengths of the collaboration.
She noted that DTCC serves as the foundational infrastructure for worldwide capital markets, and linking its tokenization capabilities to Stellar effectively bridges regulated environments with public blockchain networks.
Dixon pointed to Stellar’s focus on compliance, robust risk controls, and open architecture as ideal for institutional adoption, positioning the network as reliable infrastructure for sophisticated financial applications.
In the period leading up to full deployment, the organizations will jointly assess suitable use cases across various asset classes.
Priorities include highly liquid instruments such as components of the Russell 1000 index, major exchange-traded funds (ETFs), and US Treasury securities including bills, bonds, and notes. All activities will align strictly with DTC’s regulatory responsibilities.
Brian Steele, DTCC Managing Director and President of Clearing & Securities Services, underscored the organization’s commitment to responsible scaling.
With more than five decades of experience in clearing and settlement, DTCC aims to promote industry-wide collaboration that enhances capital efficiency, market liquidity, and overall resilience within a secure, regulated setting.
Nadine Chakar, DTCC Managing Director and Global Head of DTCC Digital Assets, outlined the vision for interoperability.
The service is designed to connect established market liquidity with digital networks by incorporating multiple Layer 1 and Layer 2 blockchains.
Stellar was selected partly due to its demonstrated success with institutional on-chain assets, strong compliance features, high transaction capacity, and cost-effectiveness.
This initiative reflects DTCC’s ongoing evolution as the industry’s leading post-trade infrastructure provider.
Operating from 20 global locations, DTCC handles enormous transaction volumes—processing $4.7 quadrillion in securities in 2025 alone—while safeguarding $114 trillion in custody assets from over 150 countries. By advancing tokenization, the firm seeks to modernize markets without compromising the stability and trust that have been the focal point of its operations.
