Zenith Joins DTC Digital Assets Working Group on Tokenization

Zenith, the EThereum-compatible execution layer for Canton Network, joined the DTC Digital Assets Solutions Industry Working Group on September 15. The group consists of more than 100 firms from traditional finance and digital markets that provide input on the evolution of the DTCC Tokenization Service.  

According to the official update, through its membership, Zenith will contribute perspectives on blockchain infrastructure and application development alongside other participants.  

JUST IN: Zenith has joined the DTC Digital Assets Solutions Industry Working Group as a participating member, alongside 100+ firms including @BlackRock, @jpmorgan, @GoldmanSachs, @Citi, @Nasdaq, and @NYSE. @The_DTCC‘s subsidiary, the Depository Trust Company (DTC), is the… pic.twitter.com/QN5gjQId5N

— Zenith (@ZenithFdn) September 15, 2026

Composition and scope of the working group

The Depository Trust Company, a subsidiary of DTCC, provides custody and asset servicing for securities issued from more than 150 countries and territories, with those securities valued at approximately $114 trillion.  

The working group began with 50 firms and has expanded to more than 100 participants. Members include banks, asset managers, exchanges, custodians, and digital asset infrastructure providers. Named participants include BlackRock, J.P. Morgan, Goldman Sachs, Citi, Nasdaq, NYSE, and Digital Asset. 

The group supplies input on the design and testing of a tokenization service that covers Russell 1000 stocks, major exchange-traded funds, and U.S. Treasuries.  

DTCC established the industry working group on May 4, 2026. The group brings together traditional financial institutions and digital asset companies around the development of DTCC’s tokenization services.  

Tokenization model and testing

The planned approach creates tokenized representations of eligible securities already held by the Depository Trust Company. Underlying assets remain within the existing custody system. Institutions can execute blockchain-based transfers while retaining established ownership records, compliance controls, and investor protections.  

In July 2026, DTCC converted assets held at DTC into tokens that were used in production-environment trades. The transactions covered institutional use cases that included collateral pledging, securities lending, U.S. Treasury repurchase agreement delivery-versus-payment transactions, and equity transfers. 

The tests operated across DTCC’s private blockchain infrastructure based on Hyperledger Besu and the public Canton Network.  

Assets involved in the July activity included shares of Microsoft and Circle, the Invesco QQQ Trust, the SPDR S&P 500 ETF and a BlackRock Treasury ETF. J.P. Morgan completed a transaction involving shares of the Invesco QQQ Trust.  

The DTCC Tokenization Service has a targeted launch in October 2026.  

Additional membership in the recent past

HashKey Group joined the same working group as its first Asian digital asset service provider. HashKey announced its participation on September 2. The Hong Kong-based firm joined more than 100 financial institutions, asset managers, and digital asset firms already participating, including J.P. Morgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange.  

HashKey’s involvement focuses on questions of how tokenized securities can be issued, transferred, settled, and safeguarded within the systems that support global capital markets.  

Zenith’s entry adds another digital asset infrastructure provider with a specific role on the Canton Network to the roster of participants examining the tokenization of securities already under DTC custody. The working group continues to gather industry input as development of the service proceeds toward the scheduled October 2026 target.

Also Read: XRP Ledger’s Batch V1.1 Amendment Nears Activation Threshold