DTCC plans to bring tokenized securities to Solana in 2027, but rules may limit impact

The Depository Trust & Clearing Corporation (DTCC), the main US securities clearinghouse, plans to extend its tokenization service to the Solana blockchain in the second half of 2027. Cointelegraph reported that the company announced the plan on Thursday.

Under the plan, certain securities held by DTCC's Depository Trust Company (DTC) subsidiary could be turned into digital tokens on Solana. Analysts quoted by the outlet said the step might draw more traditional financial institutions to the network, but that regulation could hold back the effect.

Alex Lin, founding partner at venture capital firm Reforge, said Solana's record of handling heavy memecoin trading helped show it can process large retail volumes cheaply and reliably. He also called the near-term impact overstated. In his view, a December 2025 SEC no-action letter keeps the tokens inside a closed group of registered DTC participants, so open retail and DeFi liquidity cannot reach them directly.

Under that letter, DTC participants must register wallets to hold tokenized securities, and the tokens can move only between registered wallets. Lin said regulators would need to let the assets serve as true onchain collateral, which he described as a matter of policy rather than technology.

DTCC launched its tokenization service on the Canton Network and a private Besu network on Oct. 28. At that time, 20 DTC participants had signed agreements to use the service, but DTCC has not said whether any of them intend to use Solana. Cointelegraph said it contacted DTCC and the Solana Foundation and had not received a reply.

Kha Nguyen, CEO and co-founder of analytics platform Birdeye, noted that demand for tokenized stocks on Solana was already growing without DTCC. Birdeye data showed tokenized-stock trading volume of about $4.9 billion in the first half of 2026, more than six times the prior six months, and over 1 million accounts holding such assets by late September.

Broader activity has cooled, however. According to Token Terminal, Solana recorded about 6.9 billion transactions in the 30 days to Nov. 11, down almost 40% from the previous 30 days. DEX volume fell 34.4% to $39.1 billion, monthly active addresses dropped nearly 13% to 45.8 million, and network fees declined 39% to about $17 million. The value of tokenized real-world assets on Solana rose almost 7% to $4.76 billion. DefiLlama put total value locked on the network at about $4.94 billion as of Nov. 12.

Nguyen said more tokenized securities do not automatically mean more transactions or more demand for SOL, since a trade counts as one transaction whatever its size. He argued that banks, brokers and issuers would need to issue, trade and settle on the network, and keep the assets active. Lin agreed that the longer-term effect depends on where secondary trading and collateral use take place, not where assets are issued.