Quick answer: Securitize and Fireblocks provide the issuance and custody infrastructure behind regulated tokenized assets, including BlackRock’s BUIDL fund. Separately, the DTCC announced in May 2026 that its DTC Tokenization Service will connect with the Stellar public blockchain, with DTC-tokenized assets expected in the first half of 2027. Together these are concrete signs of real-world asset tokenization moving from pilots into regulated market structure.
Updated 07/17/2026. By Jake Claver. Educational content, not investment advice.
Tokenization has spent years as a promise. What makes the current moment different is who is doing it: registered transfer agents, institutional custodians, the largest asset manager in the world, and the central securities depository that sits at the core of U.S. markets. This post walks through the two threads, the private issuance-and-custody stack, and the DTCC market-infrastructure plan, and keeps them straight, because they are not the same story.
Securitize: the issuance and transfer-agent layer
Securitize is a registered broker-dealer, transfer agent, and marketplace that tokenizes financial securities on public blockchains. In plain terms, it handles the regulated plumbing: who owns a token, how ownership transfers, and how a tokenized security stays compliant. That role is why it sits behind some of the largest tokenized products, and it is the difference between a token that is a marketing gimmick and one that represents a real, legally recognized security.
Its most cited example is BlackRock’s BUIDL, the first tokenized fund launched on Ethereum, where BlackRock engaged Securitize as transfer agent and tokenization platform. That single deal is a useful marker: a token here is a share of a regulated fund with an authoritative ownership record, not a speculative instrument.
Fireblocks: the custody and security layer
According to the Fireblocks and Securitize integration writeup, Securitize uses Fireblocks’ key-management infrastructure to deploy and operate the smart contracts behind tokenized assets while keeping control and visibility over holdings. Fireblocks supplies enterprise wallet infrastructure and custody built to meet institutional security and regulatory requirements, and its client list includes major banks such as BNY Mellon, ABN Amro, and ANZ.
The division of labor is the point. Securitize owns the regulated issuance and record-keeping; Fireblocks owns the keys and the security. For the BUIDL example, that means Fireblocks customers can access and self-custody the fund token directly through the Fireblocks console. A serious tokenized product needs both a compliant issuer and institutional-grade custody, and this pairing supplies each.
DTCC’s Stellar plan: tokenization at the market’s core
The bigger structural signal comes from the DTCC. In a May 27, 2026 announcement, the DTCC said its DTC Tokenization Service is expected to connect with the Stellar public blockchain, with DTC-tokenized assets expected to be available in the first half of 2027. This follows a U.S. Securities and Exchange Commission No-Action Letter in December 2025 that authorized DTC to build and operate a service to tokenize real-world, DTC-custodied assets, as the DTCC release describes.
Two details matter. First, this is a multi-chain strategy: Stellar is the first public blockchain named, alongside enterprise networks including Digital Asset and the Canton Network. Second, DTC will continue to hold the authoritative records for each security, with the blockchain representations acting as mirrored records used for digital settlement. That design keeps the legal source of truth where it already sits while adding a faster settlement rail.
The initial focus is on highly liquid assets: Russell 1000 constituents, major index ETFs, and U.S. Treasury securities. DTCC’s Nadine Chakar, its global head of digital assets, said Stellar’s emphasis on compliance, transaction throughput, and low-cost operations met the depository’s standards. When the entity at the center of U.S. securities settlement plans to mirror assets onto a public chain, tokenization has moved past the pilot stage.
Where XRPL and Ripple fit, and where they do not
Real-world asset tokenization is a trend that spans multiple public ledgers, and the Ripple and XRP Ledger ecosystem is part of that broader push toward on-chain issuance and settlement. But it is worth being precise: the DTCC plan described here is a Stellar integration, and the Securitize and Fireblocks stack is issuer and custody infrastructure. None of that implies the DTCC uses the XRP Ledger, and the Securitize/Fireblocks integration is not a DTCC-to-XRPL link. The honest read is that several public networks are competing to host tokenized regulated assets, and this particular set of announcements points to Stellar and Ethereum, not XRPL.
Why this matters
The practical stakes are settlement speed, asset mobility, and access. Tokenized securities can settle in minutes rather than days, move across digital venues, and trade over longer hours, while keeping investor protections if the record-keeping is done right. The reason this round of activity carries more weight than earlier hype is the identity of the participants: a registered transfer agent, an institutional custodian, a global asset manager, and the central depository, all operating inside existing regulatory frameworks. The Bank for International Settlements has mapped why this direction matters for market structure in its work on tokenisation and the future monetary system, and U.S. authorities publish broader digital-asset framing through the CFTC’s digital assets resources.
The honest limits: the DTCC launch is a 2027 target, not a live product, and the No-Action Letter is a regulatory clearance, not a guarantee of scale. And none of this is a statement about the price or investment merit of any token or network. Tokenization is an infrastructure shift in how assets are issued, custodied, and settled, separate from what any asset does in the market.
Common questions
What do Securitize and Fireblocks do in tokenization?
Securitize is a registered broker-dealer and transfer agent that issues and manages tokenized securities and keeps the compliant ownership records. Fireblocks provides the enterprise wallet, key-management, and custody infrastructure. Securitize uses Fireblocks to secure the smart contracts and keys behind its tokenized assets.
What is DTCC planning with Stellar?
In May 2026 the DTCC announced that its DTC Tokenization Service is expected to connect with the Stellar public blockchain, with DTC-tokenized assets expected in the first half of 2027. It follows an SEC No-Action Letter from December 2025 authorizing DTC to tokenize real-world, DTC-custodied assets, starting with highly liquid assets like Russell 1000 stocks, major ETFs, and U.S. Treasuries.
Does the DTCC use the XRP Ledger?
No. The DTCC plan described here is a connection to the Stellar public blockchain, part of a multi-chain strategy that also includes Digital Asset and the Canton Network. The Securitize and Fireblocks infrastructure is a separate issuance-and-custody stack and is not a DTCC-to-XRP Ledger link.
What is BlackRock’s BUIDL and how does it relate?
BUIDL is BlackRock’s tokenized fund, the first tokenized fund launched on Ethereum, with Securitize acting as transfer agent and tokenization platform and Fireblocks supplying the security infrastructure. It is a working example of a regulated fund represented as a token with an authoritative ownership record.
Does tokenization affect crypto prices?
This content makes no claim about token or network prices. Tokenization is a change in how assets are issued, custodied, and settled. Its progress is separate from the market value of any cryptocurrency or blockchain token.
This content is educational only. It is not tax, legal, or investment advice. Check primary sources and speak with a qualified professional before making financial decisions.
