The Depository Trust & Clearing Corporation (DTCC) has received approval from the U.S. Securities and Exchange Commission (SEC) to launch a regulated tokenization service.
This is an important step in bringing traditional finance (TradFi) and decentralized finance (DeFi) closer together. Additionally, this development may support various assets in the crypto market.
DTCC receives SEC approval for asset tokenization
DTCC announced in a recent statement that its subsidiary, The Depository Trust Company (DTC), has received a No-Action Letter from the SEC. This means that it is allowed to tokenize real assets held in custody by DTC, according to existing federal securities laws. The expectation is that this service will be rolled out in the second half of 2026.
With this No-Action Letter, DTC is allowed to offer the tokenization service for three years. During this period, DTC can issue blockchain-based versions of certain traditional securities, where the digital tokens have the same ownership rights, investor protections, and legal rights as the ordinary assets.
According to DTCC, the approval now applies to a select group of highly liquid assets. These include stocks in the Russell 1000 index, exchange-traded funds (ETFs) that follow major benchmarks, and US Treasury bills, notes, and bonds.
"Tokenizing the US securities market can bring significant benefits, such as easier collateral deployment, new trading methods, 24/7 access, and programmable assets. But that can only happen if the market infrastructure provides a strong foundation for this new digital era," said Frank La Salla, President and CEO of DTCC.
Which altcoins can benefit from DTCC's tokenization service?
DTCC emphasizes that it may only provide a 'limited tokenization service in a productive environment on selected blockchains.' No specific blockchain networks have been chosen yet.
This initiative creates a lot of speculation within the digital asset sector about which ecosystems may benefit the most from DTCC's move towards tokenization. Below are three altcoins that could profit from this:
1. Ethereum (ETH)
Ethereum is seen by many as the biggest contender. According to Matthew Sigel, head of Digital Assets Research at VanEck, there is a '99%' chance that DTCC will choose Ethereum for its tokenization service.
On-chain data also supports this view. On December 12, the total value of tokenized real assets was approximately $18.48 billion. Ethereum accounts for about 66% of this market.
Data from RWA.xyz shows that this network currently has around $12.2 billion in tokenized RWAs. Thus, Ethereum is the dominant public blockchain in this segment.
Ethereum's established role in the issuance of tokenized assets, combined with high security and a large network of developers, reinforces this position. DTCC has also previously used Ethereum for various of its own initiatives.
Ethereum is thus well-positioned to attract transaction costs and liquidity from tokenized securities, potentially accelerating its role as a fundamental layer for global finance.
2. Chainlink (LINK)
The next major candidate is Chainlink. Chainlink is often cited as the connecting layer between on-chain and off-chain systems. This aligns with DTCC's focus on regulated tokenization, data security, and interoperability. Particularly, Chainlink's oracle infrastructure, cross-chain functionalities, and proof-of-reserve solutions are of interest for institutional applications.
Both parties have collaborated before. In 2023, DTCC and Chainlink worked together on SWIFT's blockchain interoperability project.
In September 2025, Chainlink began a partnership with DTCC and 24 financial institutions to address inefficiencies in processing corporate actions. This past collaboration strengthens Chainlink's position and fosters more optimism in the community.
3. Ondo Finance (ONDO)
The last is Ondo Finance. As a leader in tokenized stocks based on total value, Ondo manages $361.2 million. This is 51.64% of the $699.51 million market for tokenized publicly traded stocks.
Ondo recently gained clarity after a two-year SEC investigation, which further strengthens its move towards tokenization in the US. With a 12.67% growth in market share over the past 30 days, Ondo seems well-prepared to handle more institutional investments.
If the DTCC project progresses, potential adoption could be beneficial for all three networks. It could enhance credibility, create more liquidity, and strengthen real-world usage within these ecosystems.
From a market perspective, sustained institutional acceptance of tokenized securities in the long term could also influence price performances. More on-chain activity, higher transactions, and further integration into regulated financial systems could create structural demand for ETH, LINK, and ONDO.
