Morgan Stanley tokenises stocks and Treasurys through the DTCC's new service

[Christopher_15]

Traditional finance is moving some of its core plumbing onto blockchains. Decrypt reports that Morgan Stanley says it is among the first firms to turn US shares and Treasurys into tokens through the DTCC Tokenization Service, which went live on 28 October

The Depository Trust Company, part of DTCC, holds more than $114 trillion in custody. Firms can convert securities held there into token versions, described as digital twins, and convert them back again

The service runs on the Canton Network and DTCC's private Besu network, with more blockchains planned for 2027. Twenty participants have signed up, including Bank of America, Citi, JPMorgan, Fidelity, Citadel Securities and UBS, and a regulator's no action letter in December 2025 made it possible

Amy Oldenburg, who leads digital asset strategy at Morgan Stanley, said hands on experience of linking tokenised securities with established market infrastructure will inform its wider digital asset work. No amounts have been disclosed

This is less about crypto prices and more about how the financial system moves records around. Tokens could make settlement faster and allow trading at any hour. When the organisation that holds most US securities builds something like this, it suggests blockchain technology has found a lasting role in finance

Is tokenisation the most important use of blockchain technology? And how long before ordinary investors notice any difference?

Wall Street's Plumbing Goes Onchain as Morgan Stanley Tokenizes Securities - Decryptdecrypt.co

[Candle28]

Twenty participants including the biggest banks is serious momentum. This is not a small pilot

Competitors will not want to be left behind. Expect more names to join

[DeadChat58]

DTCC getting involved is the big story here. They are the backbone of US markets. If they build on blockchain, everyone follows

[SpinState22]

Faster settlement is the practical benefit. Trades still take a day to settle in many cases

Tokens could make it nearly instant. That frees up money tied up in the process

Banks will love that. Customers might too, eventually

[GradientPiston]

Ordinary investors will not notice for years. This happens deep in the system

Apps and brokers will look the same. The changes are under the bonnet