DTCC plans tokenized securities on Solana in 2027

What happened

The Depository Trust & Clearing Corporation plans to link its DTCC Tokenization Service to Solana, allowing eligible securities held by its Depository Trust Company subsidiary to be represented as tokens on that network. The connection is scheduled for the second half of 2027. Decrypt and CoinGape reported the plan, and CoinGape said the Solana Foundation confirmed it.

Under the plan, participating institutions would be able to turn eligible DTC-held assets into tokens and manage them on Solana. DTCC CEO Frank La Salla said the step would give market participants more choice over where they access and use tokenized assets, according to the reports. CoinGape reported that he also cited liquidity, collateral mobility and capital efficiency as potential benefits.

Brian Steele, president of DTCC Clearing & Securities Services, said tokens issued on Solana would keep the protections, ownership claims and regulatory treatment that apply to securities held in traditional form, the reports said. The service operates under an SEC no-action letter that limits it to a defined set of highly liquid assets: selected Russell 1000 stocks, ETFs tracking major indexes and U.S. Treasuries.

Why it matters

The plan puts a central part of U.S. securities settlement alongside a blockchain network that has been courting institutional finance. DTC's custody exceeds $114 trillion, so a limited tokenization program sits within a much larger base of securities. The connection could give firms another way to represent and move eligible holdings while the underlying assets remain within DTCC's custody and settlement arrangements.

For Solana, the DTCC plan adds to other tokenized-securities activity on the network. Securitize has expanded its Solana stock offering, and Formation has told the SEC it plans to trade tokenized U.S. stocks there. The DTCC connection is different because it involves assets held at DTC and a service operating under an SEC no-action letter. Its scope is narrow, and the reports do not suggest that every DTC-held asset will qualify.

What the data shows

Reported figures include the second-half 2027 target for Solana, the Oct. 28 launch of DTS, 34 securities at launch, 20 institutions with access agreements and more than $114 trillion in DTC custody. Securitize's Solana stock offering reached 25 equities after the Nov. 2 addition of 13 names. Solana's Alpenglow upgrade brought finality to about 150 milliseconds, according to Decrypt.

Background

DTS launched on Oct. 28 with support for the Canton Network and a private Besu-based environment, with more networks due in 2027. CoinGape reported that the launch covered 34 securities and that 20 institutions had signed access agreements, including JPMorgan, Morgan Stanley, Citi, Fidelity and UBS. The service followed a December 2025 SEC staff no-action letter for DTC's three-year tokenization pilot.

Morgan Stanley said last week that it had tokenized U.S. stocks and Treasuries through the service, Decrypt reported. DTCC has also outlined other network connections. Stellar was announced in May with a target of the first half of 2027, while Solana and Circle's Arc blockchain are expected in 2027, according to a DTCC fact sheet cited by Decrypt.

Solana's institutional efforts include an open standard for institutional settlement developed with input from J.P. Morgan and an Alpenglow upgrade that reduced transaction finality to roughly 150 milliseconds, according to Decrypt. Solana Foundation executive Nick Ducoff described the network as infrastructure for markets that run continuously and said the DTCC connection would help settle and transfer tokenized securities onchain, CoinGape reported. Separately, Securitize added 13 U.S. equities on Nov. 2, bringing its Solana lineup to 25 stocks, including Disney, ExxonMobil, Salesforce and GameStop, CoinGape said. Securitize says each token represents a share held in custody and that eligible investors can trade outside regular hours using USDC.

What is still unclear

The reports do not specify how many eligible assets will be available on Solana at launch, which institutions will use the Solana connection first, or the exact date within the second half of 2027. They also do not say whether DTCC will seek to broaden the asset list beyond the categories allowed under the SEC no-action letter.

What to watch

Several related timelines are in motion. Stellar is targeted for the first half of 2027, Solana for later in the year, and Circle's Arc is also expected in 2027. Securitize has said it plans round-the-clock trading but has not announced a start date, while Formation's proposed tokenized-stock venue is subject to its SEC notification. How DTCC's Solana connection fits with those venues and networks will be a point to follow.

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