Depository Trust & Clearing Corporation (DTCC) has received permission from the U.S. securities regulator (SEC) to pilot a regulated tokenization service.
This is a significant step towards the integration of the traditional financial sector (TradFi) and decentralized finance (DeFi). The project may also benefit several asset classes in the cryptocurrency markets.
DTCC receives SEC approval for asset tokenization
In its latest announcement, DTCC stated that its subsidiary The Depository Trust Company (DTC) has received a No-Action Letter from the SEC. As a result, DTC can tokenize real-world assets that it holds in accordance with current federal securities laws. The service is expected to be launched in the second half of 2026.
The No-Action Letter allows DTC to offer tokenization services initially for three years. During this time, DTC can issue blockchain-based versions of certain traditional securities. Digital tokens grant their owners the same rights, investor protections, and legal benefits as traditional securities.
According to DTCC, the permission applies to a limited, highly liquid set of assets. This includes stocks in the Russell 1000 index, exchange-traded funds (ETFs) linked to major benchmark indices, and U.S. government bonds and notes.
"Tokenization of the U.S. securities market can achieve revolutionary benefits, such as collateral mobility, new trading methods, 24/7 access, and programmable assets. However, this is only possible if the market infrastructure provides a strong foundation for the digital age," stated Frank La Salla, CEO and President of DTCC.
Which altcoins can benefit from DTCC's tokenization service?
DTCC emphasized that it has been granted the right to offer "tokenization services in a limited production environment on selected blockchains." Specifically, no particular network has yet been chosen for this purpose.
The new initiative has sparked speculation in the field of digital assets about which ecosystems could benefit from DTCC's tokenization initiative. Three altcoins may particularly benefit:
1. Ethereum (ETH)
Ethereum is widely regarded as one of the strongest candidates. According to Matthew Sigelin, Head of Digital Asset Research at VanEck, there is a "99 percent probability" that DTCC will choose Ethereum as the platform for its tokenization service.
On-chain data supports this view. On December 12, the total value of tokenized real-world assets was approximately $18.48 billion. Ethereum's share of this market is about 66%.
According to data from RWA.xyz, approximately $12.2 billion worth of RWA has currently been tokenized through the network, making it the leading public blockchain in this sector.
Ethereum has an established position in the issuance of tokenized assets, along with strong security and a broad developer ecosystem that reinforces its standing. DTCC has also previously leveraged Ethereum in several of its projects.
Thus, Ethereum has the opportunity to collect transaction fees and liquidity from tokenized securities, and it could significantly accelerate the transition towards a layered global economy.
2. Chainlink (LINK)
The next strong candidate is Chainlink. Chainlink is often mentioned as a connective layer between on-chain and off-chain systems – a role that aligns well with the regulated tokenization, data integrity, and interoperability emphasized by DTCC. Its oracle infrastructure, cross-chain functionality, and proof-of-reserve solutions are particularly suited for institutional use.
These two players have also previously collaborated. In 2023, DTCC and Chainlink participated in SWIFT's blockchain interoperability project.
In September 2025, Chainlink collaborated with DTCC and 24 financial institutions to address inefficiencies in corporate transaction processing. This long history of collaboration strengthens Chainlink's position and has increased optimism within the community.
3. Ondo Finance (ONDO)
The latest is Ondo Finance. Ondo is the largest player in tokenized equities by total value, managing assets worth $361.2 million, representing 51.64 percent of the $699.51 million market for tokenized public equities.
Ondo's release from a two-year SEC investigation further supports its expansion in the U.S. tokenization market. A market share growth of 12.67 percent over the last 30 days may help Ondo prepare for larger institutional investments.
As the DTCC initiative progresses, potential inclusion would benefit all three networks. It could enhance credibility, deepen liquidity, and strengthen real-world use cases in these ecosystems.
From a market perspective, the continuous institutional adoption of tokenized securities could impact price development in the long run. Growing blockchain activity, larger transaction volumes, and stronger integration with regulated financial infrastructures may support the structural demand for ETH, LINK, and ONDO over time.
