DECRYPT · 2026-11-04 16:29 UTC

Wall Street's Plumbing Goes Onchain as Morgan Stanley Tokenizes Securities

Morgan Stanley has begun tokenizing U.S. stocks and Treasuries through the DTCC Tokenization Service, which went live Oct. 28 and is run by the Depository Trust Co. The service converts securities into tokenized 'digital twins' that maintain the same ownership rights and protections, allowing firms to move collateral and access liquidity within minutes. Morgan Stanley is one of 20 DTC participants signed up, including Bank of America, Citi, J.P. Morgan, and others; the SEC approved tokenization of Russell 1000 stocks, major ETFs, and Treasuries in December 2025.

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