DTCC to Issue Tokenized U.S. Treasuries on Canton Network Amid $3.7 Quadrillion Transaction Volume
The Depository Trust & Clearing Corporation (DTCC) will begin issuing tokenized securities on the Canton Network, with tokens representing U.S. Treasuries that will be held by DTCC for safekeeping. This initiative marks the first step in DTCC's multi-year roadmap to tokenize assets and expand across additional networks and asset classes.
Last year, DTCC processed $3.7 quadrillion in transactions, highlighting its central role in the financial system. The U.S. Securities and Exchange Commission has approved a three-year pilot program for DTCC to issue tokens on public or private blockchains, with Canton named as the first network in the pilot.
The Canton ecosystem currently manages about $6 trillion in assets and includes more than 600 participating institutions. It features privacy by default with need-to-know visibility to protect sensitive information. Alongside Euroclear, DTCC will co-chair the Canton Foundation governance, taking a leadership role in the network's development.
The native token of Canton, CC, began trading recently. Its price is around $0.075, up 2.6% on the day but down approximately 56% since its debut. Digital Asset, the company behind Canton, has attracted significant investments from major financial players including BNY Mellon, iCapital, Nasdaq, and S&P Global. Earlier this year, Goldman Sachs led a $135 million funding round for the company.
Industry observers interpret DTCC’s move as a sign of gradual Wall Street adoption of digital assets and tokenization technologies.
