DTCC sets second-half 2027 for Solana tokenization rollout

By Nathan Brooks

DTCC said on November 12, 2026 that it plans to connect its tokenization service to Solana in the second half of 2027, allowing eligible DTC-custodied securities to become tokens.

The Depository Trust & Clearing Corporation, a central U.S. securities settlement company, said the move would extend a service tied to a Depository Trust Company custody base of more than $114 trillion. The announcement did not make all of those assets eligible; DTS operates under a narrower SEC no-action framework.

The DTCC Tokenization Service went live on October 28 on the Canton Network and DTCC’s own private blockchain, built on the Besu framework. DTCC said more networks would be added in 2027.

The service creates tokenized “digital twins” of securities held at DTC. Its named expansion schedule now comprises:

• Solana in the second half of 2027.
• Stellar and Circle’s Arc blockchain, which DTCC’s fact sheet said were expected in 2027.

Under a no-action letter from the U.S. Securities and Exchange Commission, DTS is limited to a defined set of highly liquid assets:

• Russell 1000 stocks.
• Exchange-traded funds tracking major indexes.
• U.S. Treasuries.

Morgan Stanley said in the preceding week that it had tokenized U.S. stocks and Treasuries through DTS. That disclosure provides one named institutional use before the Solana rollout; the $114 trillion figure remains a measure of DTC’s overall custody, not the assets currently eligible under DTS.

“DTCC is bringing regulated, DTC-tokenized securities to another major blockchain ecosystem, giving market participants greater choice in where they access and utilize tokenized assets,” DTCC CEO Frank La Salla said.

Brian Steele, president of DTCC Clearing & Securities Services, said tokens issued on Solana “will retain the same investor protections, ownership rights and regulatory safeguards that apply to traditionally held securities.” The operational distinction is therefore the network and tokenized form used to access an eligible security, not a stated change to the security’s legal ownership.

What does this change for market participants?

For market participants eligible under the no-action letter, the immediate change is a scheduled distribution option rather than a 2026 launch. DTS expands beyond its two launch venues, with Solana the next named addition and Stellar and Arc also planned for 2027. DTCC presents that choice as the benefit, while the eligible-asset perimeter remains constrained by the SEC no-action letter.

Trading platform Formation has separately notified the SEC of plans to trade tokenized U.S. stocks on Solana, starting with Galaxy and Forward Industries. That proposal connects tokenized securities with a trading venue on the same network, although it remains a plan rather than an operating market.

Solana’s institutional positioning also rests on infrastructure beyond the DTCC agreement. In the month before the announcement, the Solana Foundation unveiled an open standard for institutional settlement developed with input from J.P. Morgan. The network also completed its Alpenglow upgrade, reducing the time for a transaction to become final to roughly 150 milliseconds, or about one-tenth of one second.

Nick Ducoff, head of institutional at the Solana Foundation, argued that: “Institutions choose Solana because it already runs real financial activity at scale.” He added that institutions are “already issuing, settling and deploying capital” on the network, in a tweet shared by Solana’s official account.

Those statements describe the network’s institutional pitch; the DTCC timetable provides the more concrete deployment marker.

For practitioners, scale and permission are separate constraints. The $114 trillion figure describes DTC’s overall custody, while the no-action letter limits DTS to a defined set of liquid securities.

The first operational checkpoint is the second half of 2027, when the planned Solana connection is scheduled to go live and eligible DTC-held securities are expected to appear as tokens on the network.