DTCC Secures SEC No-Action Clearance for Tokenized Securities

The Depository Trust & Clearing Corporation DTCC has taken a significant step towards tokenization in the U.S. capital markets by receiving a no-action letter NAL from the U.S. Securities and Exchange Commission SEC . This approval allows DTCC s subsidiary, the Depository Trust Company DTC , to offer a new tokenization service for assets it custodies.
In an historic milestone, DTC received a no action letter from the SEC to tokenize certain DTC custodied assets,
DTCC announced on social media. The letter authorizes DTC to provide this service for three years on pre-approved blockchains, ensuring that the digital versions of real-world assets will retain all entitlements, protections, and ownership rights of their traditional forms.
This development is crucial as it integrates tokenization into essential market infrastructure rather than treating it as a mere experiment. By maintaining legal certainty and custody standards, the framework addresses key concerns that have hindered institutional participation in digital asset markets.
Tokenizing the U.S. securities market has the potential to yield transformational benefits... but this will only be achievable if market infrastructure provides a robust foundation to usher in this new digital era,
said Frank La Salla, President and CEO of DTCC.
The approval also allows for the tokenization of highly liquid assets such as U.S. Treasury securities and Russell 1000 stocks, indicating a growing regulatory acceptance of blockchain-based representations of key financial instruments. Brian Steele, DTCC Managing Director, emphasized that
innovation can scale without compromising the resilience that underpins U.S. markets.
With a controlled rollout planned for the second half of 2026, this move positions tokenization as a structural evolution of capital markets infrastructure. As regulatory clarity increases for systemically important institutions, it may accelerate institutional adoption of tokenized assets as a mainstream element of global finance.