DTCC begins limited onchain Treasury test on Canton Network after SEC greenlight
DTCC is starting a limited pilot to place U.S. Treasury representations on the Canton Network blockchain following SEC approval.Summary
The Depository Trust & Clearing Corporation (DTCC) is launching a limited pilot program to place blockchain-based tokens representing U.S. Treasury securities held in its custody onto the Canton Network. This marks the first live test of onchain assets directly tied to DTC custody under U.S. regulatory approval, specifically following a Securities and Exchange Commission (SEC) no-action letter. Under the pilot, DTC participants can convert entitlements to DTC-held Treasurys into tokens; the underlying securities remain on DTCC's centralized ledger. DTCC plans to run the initial trial in the first half of 2026, utilizing its ComposerX platform with Digital Asset's permissioned Canton Network. Executives emphasized that the goal is to explore tokenization benefits while preserving the legal certainty and safeguards of current market infrastructure. This initiative occurs as the market for tokenized U.S. Treasurys has grown significantly, currently standing at roughly $9 billion outstanding.
(Source：The Block)