The Depository Trust & Clearing Corporation plans to connect its tokenized securities platform to the Stellar network by the first half of 2027, marking the first time DTC-custodied securities will live on a public blockchain. The move, backed by an SEC no-action letter from December 2025, covers Russell 1000 stocks, ETFs and U.S. Treasuries. DTCC keeps the legal 'golden record' while Stellar hosts a synchronized on-chain representation.
Why Stellar got picked first
DTCC President and CEO Frank La Salla called the collaboration a step toward 'open, interoperable digital infrastructure bridging traditional and digital markets.' Stellar's compliance features — asset clawback and restricted transfer controls — made it the first node. Nadine Chakar, global head of digital assets, said the firm plans to connect to multiple layer-1 and layer-2 networks after Stellar.
Settlement goes from T+1 to near-instant
Post-trade settlement on Stellar compresses from T+1 to near-instantaneous finality, reducing counterparty exposure and enabling 24/7 markets. That's a big change from the current two-day cycle that still exists for many instruments. The integration also opens the door for intraday tokenized settlement and corporate actions processing.
What the SEC letter covers
The SEC no-action letter from December 2025 specifically covers Russell 1000 stocks, ETFs and Treasuries. That gives DTCC clear regulatory runway to experiment with public blockchain representation for a large slice of U.S. market securities. The letter doesn't extend to other asset classes yet, but the multi-chain strategy suggests expansion down the line.
Next steps: Pilots and cross-chain work
Analysts expect DTCC to run pilots testing intraday tokenized settlement, corporate actions processing, and cross-chain interoperability between Stellar and permissioned ledgers. Tens of billions in Treasuries and money-market fund shares are already tokenized across siloed platforms. DTCC bringing its own custodial inventory on-chain is a major step toward core market plumbing. The first half of 2027 is the target — no exact date yet.
