DTCC Launched Tokenization on Canton With Ondo as a Partner. Which Coin Benefits More? - 24/7 Wall St.
The Depository Trust & Clearing Corporation (DTCC) launched its tokenization service on the Canton Network on October 28, 2026, with backing from major financial institutions including Fidelity, JPMorgan, and Bank of America.
The service initially includes 34 securities from the Russell 1000, ETFs, and U.S. Treasuries, maintaining the same ownership rights as traditional securities. DTCC plans to expand its blockchain reach in 2027 and has already partnered with 20 notable participants including Citadel Securities, Edward Jones, and infrastructure providers like BitGo Bank & Trust and Fireblocks.
No Mandatory Cryptocurrency
Interestingly, DTCC did not specify a settlement asset for this launch, meaning there is no obligatory cryptocurrency tied to the service. Banks will receive tokenized securities directly into their digital wallets without being required to hold, buy, or use either Canton Coin or Ondo.
DTCC also operates a similar tokenization service on its private Besu network, which doesn't have a public token. This could narrow Canton's current advantage before either coin establishes strong demand.
Canton's Fee Structure Advantage
The launch is the culmination of years of development.
Canton Coin has a unique integration with the network's fee system. Validators charge fees in U.S. dollars but pay in CC, burning the coins in the process. Validators and application providers mint new CC as rewards, creating a "burn-mint equilibrium." However, each validator receives a free traffic allowance before fees apply.
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