Morgan Stanley among first to use DTCC's tokenised stock service
Why it matters
Morgan Stanley says it is among the first banks to tokenise securities on DTCC's new service, which turns US stocks and Treasuries into blockchain tokens. The core plumbing of US settlement now has a live blockchain option.
The short version
Morgan Stanley says it is among the first banks to use the DTCC Tokenization Service, which launched on 28 October and turns US stocks, index ETFs and Treasuries into blockchain tokens. Twenty firms have signed up so far, including JPMorgan, Citi and Bank of America, according to CoinDesk.
Here's what happened. Morgan Stanley said in a post on X that it has started tokenising securities, making digital versions that live on a blockchain, using a new service from DTCC, the company that clears and settles most US stock and bond trades. The DTCC Tokenization Service went live on 28 October.
How it works: DTCC's Depository Trust Company creates tokens for securities it already holds. The tokens carry the same ownership rights and investor protections, holders can switch between the two forms, and tokens can be sent to the holder's own digital wallet, CoinDesk reported.
It covers Russell 1000 stocks, ETFs that track major indexes, and US Treasuries. The SEC cleared the project with a no-action letter in December 2025. It runs on two blockchains, Canton and DTCC's private Besu network, with more planned for 2027.
So who's in? 20 firms have signed up so far, according to CoinDesk, including Morgan Stanley, JPMorgan, Citi, Bank of America, Fidelity and Citadel Securities. Amy Oldenburg, Morgan Stanley's head of digital assets strategy, said the hands-on experience will shape the firm's digital asset plans.
Where this comes from
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