The US Securities and Exchange Commission (SEC) has issued a no-action letter to the Depository Trust & Clearing Corporation (DTCC), allowing the company to race ahead with its tokenisation plans.
In H2 2026, DTCC intends to offer tokenisation of real-world, DTC-custodied assets. This will cover a defined set of highly liquid assets, including US Treasury bills, bonds and notes, the Russell 1000, and ETFs tracking major indices.
The service will be provided in a controlled production environment, using pre-approved blockchains for three years. DTCC intends to offer a single pool of liquidity across traditional and decentralised finance.
Michael Winnike, managing director and global head of strategy and market solutions at DTCC Clearing & Securities Services, told The DESK, “The aim of DTCC’s new tokenisation service is to create a seamless link that bridges liquidity across TradFi and DeFi markets, catalyse innovation and create a more resilient, and efficient financial system. This announcement marks an important first step for DTC to begin offering an at-scale tokenisation service.”
The announcement follows almost a decade of work by DTCC, in collaboration with technology providers and market participants, to investigate the benefits of blockchain and tokenisation.
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