Solana Becomes the Fifth Network on DTCC’s Tokenization Roadmap, Due in Late 2027

The Depository Trust & Clearing Corporation (DTCC), whose subsidiaries provide clearing, settlement and custody for securities, said on Nov. 12 that it plans to connect its tokenization service to Solana in the second half of 2027.

Tokenization here means issuing a blockchain token representing a security. Since Oct. 28, the DTCC Tokenization Service (DTS) has let eligible clients of The Depository Trust Company (DTC), the DTCC unit that holds securities in custody, convert a holding into a token and back again. DTC keeps the official records either way, according to DTCC’s one-page overview.

The Solana link would plug DTS into Solana’s base blockchain. DTCC said the integration is expected to handle conversions of eligible DTC-held assets and the tasks that follow a token through its life. DTCC did not say which assets Solana would get.

Brian Steele, Managing Director, President of DTCC Clearing & Securities Services, said tokens on Solana would “retain the same investor protections, ownership rights and regulatory safeguards that apply to traditionally held securities.”

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The service runs under a no-action letter that U.S. Securities and Exchange Commission (SEC) staff sent DTC on Dec. 11, 2025, a statement that staff would not recommend enforcement action over the service as DTC described it. The letter names no blockchain. DTC said it would publish a list of public and private ledgers where participants, the firms that hold accounts at DTC, may register wallets.

Only participants may do so, and tokens can move only between registered wallets. DTC gives the tokens no collateral or settlement value in its own risk checks. Eligible securities are limited to Russell 1000 stocks, Treasury bills, notes and bonds, and exchange-traded funds (ETFs) tracking major indices. The staff position lapses three years after DTC launches the pilot version the letter covers.

By Unchained’s tally of DTCC’s own documents, Solana is the fifth network DTCC has named for the service. The Canton Network, which DTCC has called a public network, and DTCC’s private Besu network went live at launch. A May 27 release set Stellar for the first half of 2027. DTCC’s overview lists Circle’s Arc blockchain, where DTCC is a founding validator, only as expected in 2027; Circle said in August the connection would begin in the second half. DTCC says the roadmap may change.

“Institutions choose Solana because it already runs real financial activity at scale,” said Nick Ducoff, general manager for institutional at the Solana Foundation, in the announcement.

Morgan Stanley said six days after the Oct. 28 launch that it was using DTS. Formation Securities plans a Solana trading venue for tokenized shares in 2027.

Related Listen: Why Dozens of Companies Are Saying No to Tokenized Stocks

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