# DTCC’s Tokenization Service Goes Live, With Ondo Among Its Partners

> Twenty financial firms have signed agreements to access the service, connecting blockchain-based securities with established Wall Street infrastructure.

By Sasha Steenkamp · October 28, 2026

Canonical: https://blockster.com/dtcc-tokenization-service-goes-live-ondo

The Depository Trust & Clearing Corporation (DTCC), which helps process and settle securities trades across U.S. financial markets, has launched its tokenization service.

DTCC [announced the launch on October 28](https://www.dtcc.com/press-releases/2026/dtcc-tokenization-service-goes-live), allowing eligible clients to create blockchain-based representations of securities held by its subsidiary, the Depository Trust Company. Twenty firms have signed access agreements, including **J.P. Morgan, Fidelity Investments, Morgan Stanley and UBS**. Ondo is among the broader group of ecosystem collaborators supporting the launch.

The service connects investments already held within the financial system to new ways of moving and using them onchain.

[Post from @The\_DTCC on X](https://twitter.com/The_DTCC/status/2115421101010374767)

## What Actually Changes?

DTCC describes the tokenized securities as digital twins. Eligible positions can move between traditional and tokenized forms, with their ownership rights, investor protections and economic entitlements preserved. The service currently connects to **Canton and DTCC’s private Besu network**.

The practical uses go beyond holding a token in a wallet. In July, [more than 30 firms participated in production transactions](https://www.dtcc.com/press-releases/2026/dtcc-turns-tokenization-into-reality) covering securities lending, collateral pledges, equity transfers and Treasury repurchase agreements. Those transactions tested how tokenized assets could work inside real financial operations.

For example, a firm might use a security as collateral for another transaction. Making that asset easier to transfer could help firms manage their funding needs and reduce operational delays. Actual benefits will depend on how institutions use the service.

## Where Ondo Fits In

Ondo’s connection already has a concrete example.

On July 15, the company [announced a model](https://ondo.finance/blog/ondo-and-dtcc-collaborate-on-tokenized-stocks) involving **CRCLon and SPYon**, its tokenized representations of Circle shares and the SPDR S&P 500 ETF Trust. DTC-generated tokenized entitlements served as digital twins of the securities underlying those Ondo tokens. Ondo connected through **Alpaca Markets**, while the underlying securities remained within DTC’s custody infrastructure.

That distinction helps explain the relationship: Ondo builds investment products that can connect with DTCC’s infrastructure. Its role in today’s announcement is an ecosystem collaborator, separate from the named DTC clients signing direct access agreements.

Explaining the July initiative, Ondo’s Ian De Bode described interoperability as central to the company’s approach:

> “Today's initiative with DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it.”
>
> — [Ian De Bode, Ondo Finance, July 15, 2026](https://ondo.finance/blog/ondo-and-dtcc-collaborate-on-tokenized-stocks)

Ondo expanded that relationship in September when its broker-dealer subsidiary, **Oasis Pro Markets**, [joined DTCC’s Fund/SERV network](https://www.dtcc.com/press-releases/2026/DTCC-FundSERV-Adds-Ondo-Finance-as-First-Tokenization-Member). That separate connection supports fund processing and distribution through infrastructure already used by traditional financial firms.

## Stellar Is Part of the Next Stage

DTCC’s network plans extend beyond the launch integrations. In May, DTCC and the Stellar Development Foundation [announced plans](https://www.dtcc.com/press-releases/2026/tokenization-service-to-connect-with-stellar-public-blockchain-as-dtc-advances-multi-chain-strategy) to make DTC-tokenized assets available on Stellar in the **first half of 2027**.

That puts another major institution on Stellar’s roadmap alongside the [Securitize expansion covered by Blockster](https://blockster.com/securitize-plans-to-bring-more-wall-street-investments-to-stellar). Each project has its own implementation and timeline.

[Post from @StellarOrg on X](https://twitter.com/StellarOrg/status/2115446084793426061)

The next measure of progress is adoption: which assets institutions tokenize, how frequently they move them, and whether those transactions make collateral and investment management more efficient. **The service is live; its everyday use will determine its impact.**