The two weeks since our last edition delivered the milestone this site has tracked since May: DTCC's tokenization service went live. Around it, the first US tokenized-stock venue prepared to trade, a corporate treasury pilot showed what 24/7 cash management could look like, and the SEC's tokenized securities exemption drew its first serious legal and corporate pushback. Election Day is Tuesday.
This edition covers October 20 through November 1.
#01
DTCC's Tokenization Service Is Live: 20 Firms, 34 Securities
The Depository Trust Company launched the DTCC Tokenization Service on October 28. Twenty DTC participants have signed, among them J.P. Morgan, Citi, Morgan Stanley, Bank of America, UBS and Fidelity, with more to be onboarded on a rolling basis. DTCC's product website lists 34 eligible securities worth about $30 trillion, on the Canton Network and DTCC's private Besu network, with more networks coming in 2027. Goldman Sachs and BlackRock, both part of July's trials, are not on the launch list. We corrected our own earlier coverage on this story; see the article for the history.
#02
A Canton Venue Plans the First Tokenized-Stock Trade as 33 Companies Object to OKXICE
TSV LLC said Canton Strategic Holdings shares could begin trading as early as Monday, November 2, using an issuer-sponsored model through transfer agent Fairmint that avoids the 30-day objection window. OKXICE, which proposed tokenizing 63 other companies' shares, has drawn objections from 33 companies, including JPMorgan, Coca-Cola, Dell, Intel, Oracle, IBM, McDonald's, Microsoft and Google. No first trade is confirmed yet.
#03
Uber Tested 24/7 Treasury on Canton With HSBC and Franklin Templeton
Uber used HSBC's tokenized deposits to buy shares of Franklin Templeton's tokenized money market fund through Tradeweb, with Fireblocks wallets, then redeemed part of the holding over a weekend, settling together on Canton. It is a pilot; no amounts or timeline were disclosed.
#04
Chainlink 24/7 Prices Tokenized Assets Through the Weekend, Using Perpetual Futures
Chainlink launched 24/7 pricing for tokenized equities and commodities on October 29 with Aave as launch partner. When traditional markets are closed, prices come from perpetual futures venues, not live exchange quotes. Hanwha Investment & Securities announced a Chainlink partnership the next day.
#05
Anchorpoint Plans Its Hong Kong Dollar Stablecoin on Solana
The Standard Chartered-backed issuer signed an MOU on October 30 to mint and redeem HKDAP natively on Solana. There is no launch date, and retail access is a later phase.
#06
J.P. Morgan Puts Two Tokenized Money Market Funds on Solana
On October 22, J.P. Morgan Asset Management made MONY, a private placement, and JLTXX, a registered government money market fund built to support stablecoin issuers, available on Solana for qualified US investors.
#07
The SEC Names Three Venues, Better Markets Challenges the Exemption, and the Reg Crypto Comment Period Closes
On October 21 the SEC named TSV LLC, OKXICE and Kephas Corporation as firms planning tokenized securities venues. On October 22 Better Markets urged the SEC to rescind the exemption and use formal rulemaking. The Regulation Crypto Assets comment period closed October 20 with about 140 letters.
Numbers This Week
Snapshot
Distributed RWA value — $39.04B (RWA.xyz, Oct 26)
Represented value — $389.32B (RWA.xyz, Oct 26)
DTCC eligible pool — about $30T of $114T+ custody
Tokenized stocks — $3.28B (RWA.xyz, Oct 13)
Solana tokenized RWAs — about $4.9B (Solana Foundation)
OKXICE objections — 33 companies, vs. 63 symbols proposed
What's Ahead
Monday, November 2: TSV LLC's earliest possible first trade, in Canton Strategic Holdings shares. Tuesday, November 3: Election Day. The new Congress determines the odds of statutory definitions for digital assets, while the tokenization framework meanwhile rests on agency actions (what the election can and can't change). Also watch whether OKXICE announces a launch date, how many more firms DTCC onboards, and the first disclosed use of the tokenization service.
Previous edition: RWA This Week #017