The Depository Trust & Clearing Corporation is moving U.S. Treasury securities held at its central securities depository onto a blockchain, using the Canton Network. The move marks a significant step in the tokenization of real-world assets, a sector where the Canton Network already claims $6 trillion in asset rails. Separately, the Lighter platform has launched its LIT token, with trading fees comparable to Hyperliquid.
Why the Treasury Move Matters
DTCC is the backbone of U.S. securities settlement. By taking DTC-custodied Treasuries onchain, it's bringing the most liquid government bond market into the blockchain world. That could open up new efficiencies in settlement, collateral management, and programmatic trading. The move uses the Canton Network, a blockchain designed for institutional assets.
Canton Network's Growing Role
The Canton Network isn't new to tokenization. It already supports $6 trillion in asset rails, meaning the infrastructure handles a massive volume of real-world assets. That figure includes everything from private credit to structured products. Adding Treasuries gives the network a flagship government security, potentially attracting more institutional players.
Lighter's LIT Token Enters the Market
While DTCC works on the institutional side, Lighter is pushing into retail and DeFi. Its LIT token launched trading with a fee structure that's a multiple of Hyperliquid's fees. Hyperliquid is known for low-cost perpetual swaps, so LIT's pricing positions it as a premium alternative. The token's debut adds another option for traders looking for on-chain derivatives.
DTCC hasn't announced a timeline for when on-chain Treasuries will go live for trading. Lighter's LIT token is already trading on its platform. Both developments underscore how tokenization is moving from pilot projects to real market infrastructure.
