DTCC plans to connect its Tokenization Service to Solana in the second half of 2027, letting eligible stocks, index ETFs and Treasuries held at its depository be converted into tokens on the network. The service is already running: it went live on 28 October on the Canton Network and on DTCC’s private Besu chain, with Stellar scheduled ahead of Solana.
- The news: DTCC will add Solana to the DTCC Tokenization Service, with the integration planned for the second half of 2027.
- The figure: DTCC’s depository subsidiary provided custody and asset servicing for securities valued at $114 trillion in 2025.
- What happens next: Stellar is expected in the first half of 2027, then Solana in the second half and Circle’s Arc at some point in 2027, on a roadmap DTCC calls indicative.
The Token Keeps the CUSIP, the Record Stays With DTC
According to DTCC’s service documentation, official books and records remain with DTC, and each token carries the same CUSIP with the same rights and investor protections as the book-entry security it mirrors. Conversion orders run from 2 a.m. to 6 p.m. ET on business days, targeting 15 minutes or less.
Not everything can be tokenized. A December 2025 no-action letter from the SEC authorises DTC to tokenize Russell 1000 constituents, ETFs tracking major indices and U.S. Treasury securities, and DTCC says its scope and priorities stay tied to that letter.
The service’s “At a Glance” fact sheet puts the launch menu at 25 assets, backed by roughly $30 trillion of securities held at DTC. The limits matter as much as the totals: this is a way to hold a liquid index stock or a Treasury as a token, not a wrapper around anything exotic.
Twenty Participants Signed Before Solana Was on the List
DTCC said 20 DTC participants had signed agreements to access the service at launch, among them Barclays, Bank of America, BNP Paribas, Citadel Securities, Citi, Fidelity Investments, J.P. Morgan, Morgan Stanley, State Street and UBS. The service was developed with input from more than 150 firms in the DTC Digital Assets Solutions Industry Working Group.
The scale underneath is the reason to care. In 2025, DTCC’s subsidiaries processed securities transactions valued at $4.7 quadrillion, and its depository handled securities issues from more than 150 countries and territories.
“DTCC is bringing regulated, DTC-tokenized securities to another major blockchain ecosystem, giving market participants greater choice in where they access and utilize tokenized assets while preserving the protections of traditional markets and expanding opportunities for liquidity, collateral mobility and capital efficiency,” said Frank La Salla, president and chief executive officer of DTCC, in the announcement.
Solana Is Third in Line, Behind Stellar
The order matters if you hold SOL and expect this to land soon. DTCC and the Stellar Development Foundation expect DTC-tokenized assets on Stellar in the first half of 2027, and the Solana integration is planned for the second half. Circle’s Arc network is also expected in 2027.
Two networks are live today: Canton, using the CIP-56 token standard, and DTCC’s private Besu network, using ERC-20. The version of the “At a Glance” fact sheet read for this piece lists Canton, Besu, Stellar and Arc, and does not mention Solana at all.
Nadine Chakar, DTCC’s global head of digital assets, framed the choice of network as a matter of what already works: “DTCC is committed to providing an open and connected platform that provides our users with access to mature distributed ledger technology networks like Solana that have established performance, security and governance features.”
Solana’s side makes the same argument from the demand end. “Institutions choose Solana because it already runs real financial activity at scale,” said Nick Ducoff, general manager institutional at the Solana Foundation. The network is not new to tokenized equity: Backpack launched tokenized Meta shares on Solana earlier this year.
No Firm Date and No Named Partners Yet
DTCC has not given a date inside the second half of 2027, and has not named which venues or partners will handle DTC tokens once they are live on Solana. The fact sheet describes the roadmap as “indicative and subject to change”, and adds that service scope, priorities and timing are subject to the SEC no-action letter.
That leaves two things to watch. The first is whether the no-action letter is widened or amended before 2027, because it caps what can be tokenized, not just where. The second is Stellar: it goes first, and it will show whether conversion inside the 15-minute target and CUSIP matching hold up on a public network before Solana gets the same treatment.