Citi, JPMorgan and DTCC say tokenization is now moving billions — not millions — in real production

A year ago, Citi's tokenized deposit system was handling millions of dollars in volume. "Now we're moving billions," said Ryan Rugg, who leads digital assets for the bank's treasury and trade solutions unit, speaking at Consensus 2026 in Miami. JPMorgan's blockchain platform Kinexys has crossed $1 trillion in cumulative transactions, while DTCC is actively planning to bring parts of its $150 trillion securities infrastructure onto a shared digital layer.

The common thread across all three institutions is integration, not replacement. Blockchain rails are being stitched into existing market infrastructure to enable 24/7 settlement, real-time collateral management, and continuous cross-border payments — functions that legacy systems simply weren't built for. Corporate treasurers, in particular, are rethinking how they pre-position cash when funds can move instantly across time zones and…