Morgan Stanley tokenizes US stocks and Treasuries via DTCC

Morgan Stanley said Tuesday it created blockchain-based versions of U.S. stocks and Treasuries through the DTCC Tokenization Service, launched October 28 and run by the Depository Trust Company, a DTCC subsidiary. The service makes digital twins of instruments registered at DTC and lets users move tokens to approved wallets or restore them while retaining ownership rights. Morgan Stanley is among the first banks to use it; about 20 banks participate, including Bank of America, Citi, J.P. Morgan, Fidelity and State Street. The service connects to the Canton blockchain and a private DTCC network, does not enable unrestricted round-the-clock trading, and operates under an SEC staff letter permitting a three-year pilot covering Russell 1000 stocks, major-index ETFs and Treasuries.