DTCC, via its Depository Trust Company unit, outlined plans to tokenize portions of U.S. Treasury securities on the Canton Network, sparking a sharp rally in the Canton token over the past week. Cointelegraph reported that the Canton token rose roughly 27% in the past week, outpacing a largely flat crypto market.
Frank La Salla, DTCC’s Chief Executive, said the collaboration aims to start with U.S. Treasuries and develop a roadmap for tokenizing higher-value assets that could extend to more DTCC-eligible assets. DTCC noted that tokenization would be implemented on Canton Network. Canton Network is designed as a hybrid blockchain enabling regulated institutions to issue and settle tokenized real-world assets, with the Canton token used for network operations and settlement.
Tokenized real assets have emerged as a core growth area for the crypto industry, with total on-chain value rising from about $5.6 billion to $19 billion year-to-date; U.S. Treasury-based RWAs increased from roughly $3.9 billion to $9 billion. BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) and managers Ondo Finance and Franklin Templeton have tokenized Treasury products valued at approximately $1.7 billion, $830 million, and $790 million respectively. MoonPay’s Keith Grossman described the move to on-chain traditional assets as a tipping point for financial infrastructure, indicating that RWA tokenization is reshaping the broader financial system.
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