DTCC Picks Solana to Host Tokenized Stocks and Treasuries

The Depository Trust & Clearing Corporation said Thursday it will connect its DTCC Tokenization Service to Solana, allowing eligible assets held by its Depository Trust Company subsidiary to be turned into tokens on the network. The integration is planned for the second half of 2027.

DTCC CEO Frank La Salla framed the move as giving market participants a wider menu of blockchains for accessing tokenized assets, calling it a step toward regulated, DTC-tokenized securities on another major ecosystem.

The service went live on October 28 on the Canton Network and on DTCC's own private blockchain, which runs on the Besu framework, with more networks set for 2027. It mints tokenized digital twins of securities held at DTC, which custodies more than $114 trillion in assets. Solana joins Stellar and Circle's Arc blockchain on the list of networks expected to be added next year, according to a DTCC fact sheet.

An SEC no-action letter keeps the service inside a narrow lane of highly liquid assets: Russell 1000 stocks, ETFs that track major indexes, and U.S. Treasuries. Morgan Stanley said last week it had tokenized U.S. stocks and Treasuries through the service. Brian Steele, president of DTCC Clearing & Securities Services, said tokens issued on Solana will carry the same investor protections, ownership rights and regulatory safeguards as traditionally held securities.

Solana has spent months courting traditional finance. Nick Ducoff, the Solana Foundation's head of institutional, argued that institutions pick the network because it already runs real financial activity at scale, with firms issuing, settling and deploying capital there, in a post shared by Solana's official account. Last month the foundation rolled out an open standard for institutional settlement built with input from J.P. Morgan, and the network finished its Alpenglow upgrade, trimming transaction finality to roughly 150 milliseconds.

More tokenized equity venues are lining up too. Trading platform Formation has notified the SEC of plans to trade tokenized U.S. stocks on Solana, starting with Galaxy and Forward Industries.