DTCC to Launch Stock Tokenization Service in October

The Depository Trust & Clearing Corporation (DTCC) plans to launch a stock tokenization service in October on the Canton Network. The service will allow institutional investors to tokenize shares of major Russell 1000 companies, including Nvidia, Apple and Microsoft, and transfer them between approved wallets. The launch follows a pilot involving 40 financial firms, including JPMorgan, Goldman Sachs and BlackRock. DTCC said the service could help reduce settlement costs, speed up transactions and extend trading hours while keeping existing custody arrangements largely unchanged.