Wall Street Giant Morgan Stanley Joins DTCC’s Tokenization Service to Put Stocks and Treasuries on Blockchain

Morgan Stanley has announced it is one of the earliest banks to turn traditional securities into blockchain tokens through a new system built by the DTCC, the firm that clears and settles most American stock and bond trades. The service went live on Oct. 28. Amy Oldenburg, who leads digital assets strategy at the bank, said working directly with tokenized securities alongside existing market plumbing will guide what the bank develops next. Morgan Stanley did not respond to a request for comment.

How the DTCC Tokenization Service Works

The DTCC’s Depository Trust Company creates tokens that stand for securities it already holds. According to the DTCC, holders keep the same ownership rights and protections as with the original shares. Users can convert between the two forms and move tokens into their own digital wallets. The firm says the setup can boost liquidity, make collateral easier to move and help companies use capital more efficiently.

Networks, Coverage and Participating Firms

The platform runs on the Canton network and a private Besu chain, with more networks planned for 2027. It covers Russell 1000 stocks, ETFs that follow major indexes and Treasuries, and it received a no-action letter from the SEC in December 2025. So far 20 firms have joined, among them J.P. Morgan, Citi, Bank of America, Fidelity and Citadel Securities.