Morgan Stanley begins tokenizing U.S. equities and Treasuries via the DTCC Tokenization Service, with 20 Wall Street firms already signed up.
RWA & Tokenization ·
Morgan Stanley has joined early adopters using the Depository Trust & Clearing Corporation's tokenization service to convert US equities and Treasury securities into digital form. The bank is among the first to integrate this capability, with a rollout planned for the first quarter of 2027.
The DTCC's tokenization service allows financial institutions to issue and settle securities on blockchain infrastructure while maintaining compatibility with traditional settlement rails. This approach enables institutions to experiment with blockchain-native workflows for equities and fixed-income assets without abandoning existing regulatory and operational frameworks.
The timeline and scope of additional bank participation, as well as trading volumes and use cases once the service goes live, remain to be determined. The extent to which institutional adoption will reshape settlement efficiency or unlock new market structures is not yet established.