DTCC and Securitize Compete to Propel $689M Tokenized Stock Market Beyond $1B

Tokenized Stocks Market Overview: As of December 2025, tokenized stocks represented $689.1 million in market capitalization, only 3.7% of the $18.7 billion real-world assets market, with both DTCC and Securitize aiming to push this market past $1 billion through their competing initiatives.

DTCC's Infrastructure Approach: DTCC partnered with Canton Network to tokenize DTC-custodied assets, starting with US Treasuries, and plans to roll out a pilot program in the second half of 2026, focusing on maintaining existing custody relationships while integrating tokenization.

Securitize's Issuer-Led Model: Securitize is launching a native on-chain stock trading platform that allows issuers to directly record shares on the blockchain, promoting a model where investors have direct ownership and rights, contrasting with DTCC's infrastructure-first strategy.

Future Competition and Market Dynamics: The competition between DTCC and Securitize centers on which model will dominate the tokenized stocks market—CSD-controlled entitlements on permissioned networks versus issuer-level native shares on public infrastructure—potentially leading to a bifurcated market catering to different participants.