CoinDesk
DTCC, the U.S. clearing giant that settles more than $114 trillion in assets, said earlier this week it will connect its upcoming tokenized securities platform to the Stellar network beginning in the first half of 2027, making Stellar the first public blockchain chosen for the rollout. Stellar Development Foundation CEO Denelle Dixon framed the selection as the product of an almost decade-long relationship that began with Securrency, the institutional tokenization platform DTCC acquired in 2023 and folded into DTCC Digital Assets. Securrency engineers worked alongside Stellar developers to embed the compliance primitives regulated issuers need — clawbacks, transfer restrictions, identity controls — directly into the network's base layer rather than bolting them on as middleware.
Why it matters
The institutional read is scale, not novelty. DTCC is the plumbing underneath nearly every U.S. securities trade, and putting a public blockchain on the issuance and settlement path for tokenized assets opens the door to projects involving highly liquid instruments — major indexes and U.S. Treasuries most prominently. The size of the prize is also why the milestone is structural: Standard Chartered has projected $2 trillion in tokenized assets by 2028, while BCG and Ripple have modeled an $18.9 trillion market by 2033, and Franklin Templeton's 2021 launch of the BENJI tokenized money-market fund on Stellar is widely treated as the proof point that a regulated public-network fund could operate at production scale. BlackRock, JPMorgan and Fidelity have since entered the tokenized Treasury space, which now sits at roughly $15 billion.
Market impact
For Stellar, the partnership validates a long-running bet that compliance-ready infrastructure — not raw throughput — is what pulls regulated issuers onchain. Dixon argued the base layer stays open while issuers decide whether transfers require KYC, whether assets can be frozen or clawed back, and what transaction data remains visible; that flexibility is what made Stellar the venue of choice for BENJI in 2021 and now for DTCC's tokenized securities rail.
Frequently asked questions
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Why did DTCC choose Stellar over other public blockchains?
Stellar Development Foundation CEO Denelle Dixon said the relationship goes back nearly a decade, beginning with Securrency (now DTCC Digital Assets), whose engineers worked alongside Stellar developers to embed compliance primitives like clawbacks, transfer restrictions and identity controls directly into the…
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When will tokenized securities start settling on Stellar?
DTCC said tokenized assets held through its Depository Trust Company could become available on Stellar beginning in the first half of 2027.
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What compliance features does Stellar offer for regulated issuers?
Dixon said Stellar's architecture lets issuers decide whether transfers require KYC checks, whether assets can be frozen or clawed back, and what transaction information remains visible — with the base layer staying open and compliance layered on top.
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How big is the tokenization market opportunity?
Standard Chartered has projected $2 trillion in tokenized assets by 2028, while BCG and Ripple have modeled an $18.9 trillion market by 2033. The tokenized U.S. Treasury market alone has grown to roughly $15 billion, with BlackRock, JPMorgan and Fidelity participating.
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What is Franklin Templeton's BENJI and why does it matter?
BENJI is Franklin Templeton's tokenized U.S. Treasury money-market fund, launched on Stellar in 2021. It is widely treated as one of the earliest regulated tokenized funds on a public network and a key proof point that helped pave the way for the broader tokenized Treasury market.
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