DTCC pilots tokenized Microsoft, QQQ, SPY, and U.S. Treasuries with BlackRock, JPMorgan and nearly 40 firms before October launch.
DTCC has launched a securities tokenization pilot with nearly 40 financial firms and technology providers. The pilot tests tokenized versions of stocks, ETFs, and U.S. Treasuries.
Wu Blockchain reported the update, citing The Wall Street Journal. The assets include Microsoft, Circle, QQQ, SPY, short-term Treasury ETFs, and Treasuries with different maturities.
The pilot includes large market names such as BlackRock, JPMorgan, Goldman Sachs, Vanguard, and NYSE. DTCC plans to formally launch its tokenization service in October.
The project arrives as traditional finance and crypto firms test shared settlement systems.
Tokenized assets in the pilot keep the same ownership, dividend, and governance rights as the underlying securities.
DTCC Tests Tokenized Securities Market
DTCC is testing how traditional securities can move through tokenized market systems. Tokenization means representing an asset through a digital token on a blockchain-based or distributed ledger system. In this case, the assets still link back to real securities.
The pilot covers U.S. stocks, ETFs, and Treasury products. Microsoft, Circle, QQQ, SPY, short-term Treasury ETFs, and U.S.
Treasuries are part of the test. These assets give DTCC a broad sample across equities and fixed income.
DTCC Launches Tokenization Pilot for Microsoft, QQQ Shares and U.S. Treasuries
According to The Wall Street Journal, DTCC has launched a securities tokenization pilot with nearly 40 financial firms and technology providers, testing the tokenization of stocks and U.S. Treasuries.… pic.twitter.com/2L1PD7ykeX
— Wu Blockchain (@WuBlockchain) July 15, 2026
According to Wu Blockchain, DTCC expects a formal service launch in October. The current phase remains limited, so full market use is not yet active.
The October rollout may show how the system handles wider settlement needs.
BlackRock and JPMorgan Join Pilot
The pilot includes nearly 40 financial firms and technology providers. Participants named in reports include BlackRock, JPMorgan, Goldman Sachs, Vanguard, and NYSE.
Their presence places the test inside mainstream market infrastructure discussions.
Merlijn The Trader said the pilot connects Wall Street firms and crypto companies at the settlement layer.
The post named BlackRock, JPMorgan, Goldman, Bank of America, and Nasdaq on one side. It is also named Circle, Ondo, Ripple Prime, Robinhood, and Kraken on the other.
BREAKING:
🇺🇸 WALL STREET AND CRYPTO JUST STARTED SETTLING ON THE SAME BLOCKCHAIN.
DTCC, custodian of over $114,000,000,000,000 in securities, began live tokenized trades of Russell 1000 stocks, ETFs and Treasuries this week.
On one side: BlackRock, JPMorgan, Goldman, Bank of… pic.twitter.com/dKTJMgfF8K
— Merlijn The Trader (@MerlijnTrader) July 15, 2026
DTCC plays a central role in U.S. securities markets. Merlijn said the organization is linked to more than $114 trillion in securities custody.
That scale makes any tokenization test closely watched by banks, asset managers, and digital asset firms.
Tokenized Assets Keep Investor Rights
DTCC said tokenized assets will retain the same rights as the underlying securities. These include ownership rights, dividend rights, and governance rights.
This point is important because investors still need legal claims tied to real market assets.
Tokenized securities could support faster settlement and better tracking between approved market analysts.
However, regulated securities markets still require compliance, custody, reporting, and investor protection rules. The pilot is therefore a test of market structure, not only technology.
The next focus is DTCC’s planned October launch and the results of the limited pilot.
Market watchers may also track which assets enter production first. For now, the project shows tokenization moving further into securities trading infrastructure.
Be the first to comment