The Depository Trust & Clearing Corporation (DTCC) has received approval from the US Securities and Exchange Commission to test a regulated tokenization service.
This is an important step to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi). The initiative may also benefit several assets in the cryptocurrency market.
DTCC receives approval from SEC for asset tokenization
In a new statement, DTCC announced that its subsidiary The Depository Trust Company (DTC) has received a No-Action Letter from SEC. This allows them to tokenize real assets held by DTC under current federal securities laws. The service is expected to begin rolling out during the second half of 2026.
The No-Action Letter gives DTC the right to offer the tokenization service for three years. During this time, DTC may create blockchain-based versions of certain traditional securities. The digital tokens provide the same ownership rights, investor protections, and legal rights as regular securities.
According to DTCC, the status applies to a limited group of highly liquid assets. These include stocks in the Russell 1000 index, exchange-traded funds tracking major indices, as well as US Treasury bills, bonds, and government bonds.
'Tokenizing the U.S. securities market could provide significant benefits such as liquidity for securities, new trading opportunities, 24/7 access, and programmable assets. However, this will only be possible if the market infrastructure provides a robust foundation for this new digital era,' said Frank La Salla, CEO of DTCC, in a statement.
Which altcoins may benefit from DTCC's tokenization service?
DTCC emphasized that they are allowed to offer a 'limited production service for tokenization on selected blockchains.' They have not yet chosen any specific networks for the service.
However, the initiative has led to speculation within the digital asset sector about which ecosystems may benefit from DTCC's entry into tokenization. Here are three altcoins that could benefit from this:
1. Ethereum (ETH)
Ethereum is generally regarded as one of the top candidates. 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 supports this. On December 12, the total value of tokenized real assets reached approximately $18.48 billion, where Ethereum accounts for about 66% of the market.
Data from RWA.xyz showed that the network currently has about $12.2 billion in tokenized RWAs, making it the dominant public blockchain in the field.
Ethereum's well-established role in tokenized assets, along with the network's security and large developer base, strengthens its position. DTCC has also used Ethereum in several previous initiatives.
This allows Ethereum to participate in transaction fees and liquidity from tokenized securities, thereby accelerating the network's development into a foundation for global finance.
2. Chainlink (LINK)
The next strong candidate is Chainlink. Many believe that Chainlink serves as the connecting link between on-chain and off-chain systems. This aligns well with DTCC's focus on regulated tokenization, data integrity, and interoperability. Chainlink's oracle database, the ability for cross-chain functionalities, and proof-of-reserve solutions are particularly important for institutional purposes.
The two companies also collaborated earlier. In 2023, DTCC and Chainlink collaborated on SWIFT's blockchain project regarding interoperability.
In September 2025, Chainlink collaborated with DTCC and 24 financial institutions to solve issues in managing corporate actions. This history of collaboration thus strengthens Chainlink's position and has increased optimism within the community.
3. Ondo Finance (ONDO)
The latest is Ondo Finance. As a leader in tokenized stocks measured by total value, Ondo controls $361.2 million, which is 51.64% of the market for tokenized public stocks, totaling $699.51 million.
Ondo recently received approval after a two-year SEC investigation. This strengthens Ondo's growth in the U.S. market for tokenization. Ondo has grown 12.67% in market share over the past 30 days. Therefore, Ondo can handle more inflows from institutions.
As DTCC's initiatives move forward, potential participation could be positive for all three networks. It could strengthen credibility, increase liquidity, and demonstrate practical use cases for those ecosystems.
From a market perspective, continued institutional interest in tokenized securities may affect price development in the long term. More activity on-chain, higher transaction volumes, and greater integration with regulated financial infrastructure may therefore create demand for ETH, LINK, and ONDO over time.
