Public Ledger to Unlock $54 Trillion Securities Market by 2027 Through DTCC-Stellar Collaboration

Table of Contents The Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation (SDF) have announced plans to enable tokenization of DTC-custodied assets on the Stellar network. The collaboration advances DTCC’s multi-chain strategy, building on a December 2025 SEC No-Action Letter. DTC-tokenized assets are expected to be available on the Stellar network in the first half of 2027, supporting faster settlement and greater asset mobility. DTCC’s move to connect with Stellar follows regulatory authorization from the U.S. Securities and Exchange Commission. The SEC issued a No-Action Letter in December 2025, allowing DTC to implement and operate a new tokenization service. The service enables market participants to use traditional assets within a digital ecosystem. The integration with Stellar supports the full asset lifecycle, covering corporate actions and reporting. It also allows rapid conversion of traditional assets into tokenized form. Tokenized assets will carry the same investor protections and entitlements as traditionally held securities. DTCC President and CEO Frank La Salla described the collaboration as a step toward building open, interoperable digital infrastructure. “We are committed to expanding opportunities for market participants to utilize tokenized assets to access deeper liquidity, achieve greater efficiency and increase transparency on a public blockchain,” La Salla said. He added that tokenization can enable new levels of transaction efficiency, collateral mobility, and extended trading hours. DTCC Managing Director Nadine Chakar pointed to Stellar’s compliance-oriented design and transaction throughput as key factors in the network selection. “Stellar’s proven track record with institutional assets onchain is an important factor in our evaluation of blockchain networks,” Chakar noted. She added that the firm plans to integrate multiple Layer 1 and Layer 2 networks to ensure open access for DTC tokenization service users. DTCC and SDF will work together to assess tokenization use cases for eligible asset classes. This evaluation covers highly liquid assets such as constituents of the Russell 1000 index. U.S. Treasury bills, bonds, notes, and ETFs tracking major indices are also under consideration. The collaboration aligns with DTCC’s broader goal of enabling tokenization safely and at scale. “We are leveraging our 50+ years of expertise in clearing and settlement to galvanize the industry,” said DTCC Managing Director Brian Steele. He added that the initiative fosters collaboration across a wide cross-section of market participants. SDF CEO Denelle Dixon described the integration as connecting public blockchain networks to regulated market infrastructure. “DTCC is the backbone of global capital markets, and integrating their tokenization service with Stellar connects public blockchain networks to regulated market infrastructure,” Dixon said. She noted that Stellar was purpose-built to serve as a reliable rail for institutional-grade markets. Both organizations aim to support a more efficient and interoperable global financial ecosystem.