Goldman Sachs, JP Morgan and BlackRock have joined Ondo Finance in DTCC’s tokenised securities initiative.
It comes as Wall Street accelerates efforts to bring traditional stocks and bonds onto blockchain-based infrastructure.
Frank La Salla, DTCC president and chief executive, said the initiative demonstrated that tokenisation could be introduced while maintaining the safeguards and resilience expected in traditional markets.
La Salla said the DTCC Tokenisation Service would help institutionalise tokenised markets and support the development of a future digital financial ecosystem.
The launch comes as tokenisation gained momentum across global capital markets.
DTCC recently began production trials involving tokenised stocks, exchange-traded funds and Treasuries with nearly 40 financial institutions including including BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and NYSE, reflecting growing demand for faster settlement, improved collateral mobility and broader access to digital assets.
Ian De Bode, chief executive of Ondo Finance, said the launch showed the firm’s technology works alongside established market infrastructure.
“Ondo is the only company simultaneously building all pathways for US securities tokenisation. Today’s initiative with DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it,” he said.
The product marked the first time tokenised stock representations had been backed by DTC Tokenised Entitlements linked to securities held at The Depository Trust Company, the organisation that clears and settles most US stock trades.
The first tokenised assets launched by Ondo were based on shares in Circle Internet Group and the SPDR S&P 500 ETF Trust, represented on-chain as CRCLon and SPYon.
The underlying securities remained within DTC’s custody system while digital versions could be transferred and used across blockchain-based platforms.
