🤝 DTCC Chooses Canton, Securitize's Tokenized Stocks in Q1, Coinbase Tokenize, and More

Summary and Key Takeaways

1. DTCC Chooses Canton Network for Tokenized Treasuries

Last week we covered the DTCC getting their No-Action letter from the SEC to tokenize liquid assets such as equities, ETFs, and bonds on pre-approved blockchains. We wondered which ones would be chosen and this week we have our first answer and it’s Canton Network. This comes to no surprise given that they invested in Digital Asset, the company behind Canton, during their $135M round earlier this year and have done work together already with an onchain financing of tokenized treasuries using USDC on a Saturday. This serves as a proof of concept for the MVP that’s to come in the first half of 2026 around tokenizing a subset of DTC-custodied treasuries which of course is the foundation for onchain trading and collateral mobility to support securities lending. 

Aside from this initiative the DTCC will also be co-chairing the Canton Foundation alongside Euroclear. Having two of the largest post-trade service providers onboard is a big win for the privacy-focused blockchain and Digital Asset’s cap table of institutions signals this is just the tip of the iceberg of what’s to come. With all that said, the DTCC will support other blockchains and it’ll be interesting to see which other ones make the cut as they prepare to tokenize other assets beyond treasuries. While Canton’s great for some use cases that need to preserve privacy in transactions and other information, the other side of the coin is the fact that it’s so institutionally-owned and some may prefer a more open, permissionless environment and transparency that comes with other blockchains as long as investor protections and proper guardrails are in place.

2. Anchorage Digital Integrates Hedgey for Token Management and Acquires Securitize for Advisors

Not 1 but 2 big announcements from Anchorage Digital, starting with their Hedgey platform that they’ve now integrated with their custody solutions to have an all-in-one token cap table management system. This means automated collection of information (like wallet addresses), vesting schedules, and distributions with a nice interface for both the issuer and the investor/stakeholder. Why is this needed? To eliminate the need for Excel spreadsheets and the operational risks associated with such manual management of token allocations. This isn’t all as Anchorage also announced their acquisition of Securitize for Advisors, the crypto wealth management platform for RIAs. This is a win-win as Anchorage expands wealth management solutions and clientele while Securitize gets to maintain their focus on their core business which is tokenizing capital markets. Having 99% of Securitize for Advisors assets already custodied with Anchorage makes this even more frictionless of an integration. Wealth management will be changing dramatically with crypto allocations getting off zero, as we saw even Bank of America fold and finally start allowing it next month and Morgan Stanley increase theirs to 4% earlier this year. Anchorage is positioning itself to be a go-to option for crypto custody and eventually tokenized securities will make their way into portfolios, giving RIAs a way to help their clients enhance their allocations safely.

3. Securitize Announces Tokenized Stocks with 24/7 Trading Coming in Q1 2026

Tokenized stocks have come back into the spotlight in 2025 in various forms, from xStocks bringing access at scale through exchanges like Kraken to Superstate and Figure going after native issuance. What’s native issuance? Where the token is the actual security, rather than a wrapper or representation of a security held somewhere else in a different structure. Securitize was a pioneer in this space through Exodus’ equity years ago and now they’re refocusing on native tokenized stock issuance and trading with FG Nexus as their first client to use this new solution. Aside from issuing shares directly to registered wallets with Securitize’s transfer agent, which others like Superstate’s Opening Bell does as well, trading is going to have two forms to enable 24/7 liquidity. During market hours Securitize Markets will be following Regulation NMS, including execution at the National Best Bid and Offer (NBBO) just like you would on a normal brokerage account. What about when the market is closed? Trading will switch to their automated market maker for pricing. Slowly but surely are tokenized stocks taking their true, native form while blending with traditional markets for liquidity, pricing, and governance unlike other structures. This announcement displays Carlos Domingo and team’s thoroughness even Superstate CEO Robert Leshner commented on X, “This is the way. Nice product structure!”

4. Superstate Tokenized Stocks Now Accepted as Collateral on Kamino

Speaking of Superstate, their Opening Bell platform has been tokenizing stocks as well and is now expanding into DeFi utility using Kamino on Solana. Forward Industries (FWDI), Exodus (EXOD), and Solana Company (HSDT) investors will now be able to use their positions as collateral for stablecoin loans through a vault. Why would anyone do this? Imagine being able to borrow stablecoins and use them in a DeFi strategy with high yield (not financial advice). This gives the opportunity to earn there while maintaining ownership of your equities and not miss out on their potential upside. As DeFi users get accustomed to RWAs more and more we expect to see new borrowing venues to become available, SecLending capabilities, and more for holders of these equities. At the same time, this also means that others can participate in the lending part of it and earn interest from said investors just as we’ve seen in comparable platforms like Aave’s Horizon. 

5. Coinbase Announces Coinbase Tokenize

During their Apple-style event called System Update, Coinbase announced multiple new services and functionalities coming to the platform including their social media-enabled wallet coming out of beta (the Base App), Coinbase Business, 24/5 stock trading, prediction markets through Kalshi, Coinbase Advisor (AI-powered financial advisor), and more. While all of these are super exciting, the final announcement from Brian Armstrong is the one we’ve been waiting for: Coinbase Tokenize. He didn’t share too much information, however the main takeaway is that Coinbase is going to start focusing on primary security token issuances. This is what we predicted is going to be the next step after Coinbase earlier this year did the ICO for Monad (AKA the MVP for regulated primary offerings). This is huge for companies looking to raise from a wide investor audience and vice versa for their 100M+ users to get easier access to RWAs. 

This is not financial advice.

RWA Foundation & WALLY DAO Updates

The RWA Foundation introduced the RWA Pod as “A permissionless way for anyone to support RWAs using crypto with multiple RWA project tokens as yield.”

In partnership with PERQ, the RWA Pod allows you to deposit ETH, USDC, ARB, and S/ Sonic. Participants will receive tokens on multiple blockchain protocols related to RWA projects that the RWA Foundation has qualified and selected as Founding Members.

Check out this latest interview with REAL Finance CEO & Co-Founder Ivo Grigorov!

Think Like Herwig

Hello readers,

Happy holidays to you and your families! I’m excited for 2026 for so many reasons but most of all because the last 8 years of hard work and sacrifice are about to pay off. Get ready for the year of tokenization and for a major announcement from STM in the new year!

Happy tokenizing, 
Herwig “Happy” Konings
CEO, Security Token Group 

Follow me on X / LinkedIn

Security Token Show Ends with 300 Episodes!

Check out the latest and final episode of the Security Token Show as well as the full catalog on Youtube, Spotify, Apple Podcasts & Google Podcasts.

Reports

RWA Tokenization: Key Trends and 2025 Market Outlook

Check out a report we contributed to: RWA Tokenization: Key Trends and 2025 Market Outlook. Led by Brickken, this report brings multiple parties together in diving into tokenization, with STM.co supporting with both data and some of the written sections.

What’s Inside?

✅ A Breakdown of Tokenization and Related Benefits
✅ Key advantages for issuers, investors, and institutions
✅ How the market is evolving and trends shaping adoption in 2025
✅ What’s next? Expert insights on regulation, DeFi integration, institutional involvement, and market growth

STM’s RWA Market Prediction for 2030

STM.co is proud to release a thorough report on our prediction on the tokenized real world asset market growth. This report explores the variety of opportunities within each asset class to capture value on-chain.

Tokenization can be applied to just about any object and asset type. Art, carbon credits, life insurance, and other sub $5 trillion asset classes weren’t even considered in estimates.

In order for STM to derive its 2030 market predictions, the following asset classes were evaluated: currency, M2/M3, real estate, commodities, public equities, private companies and funds, bonds, credit and lending markets.

This is not financial or investment advice.

Helpful Resources

• $30 Trillion by 2030 - STM

• Global Tokenized Real Estate Market Guide 2024 - STM

• TokenizeThis 2024: Highlights and Key Takeaways - STM

• TokenizeThis 2023: Highlights and Key Takeaways - STM

• State of Security Tokens 2023 - Q4 - STA

• State of Security Tokens 2023 - Q3 - STA

• State of Security Tokens 2023 - Q2 - STA

• State of Security Tokens 2023 - Q1 Extended - STA

• Real-World Asset Tokenization 2023 According to STM - STM

• Tokenizing an Asset in 3 Easy Steps - Security Token Show

• Rich Data in Private Assets - STM

• State of Security Tokens 2022 - STA

• State of Security Tokens 2023 - Institutional Edition - STA

• Tokenization for Institutions - What You Need to Know - STM, Arca (YouTube)