Around 40 firms including BlackRock, J.P. Morgan, and Goldman Sachs participated in production trades using tokenized US securities on blockchain networks. The Depository Trust & Clearing Corporation, the backbone of virtually every stock trade in America, ran its first live production trades using tokenized assets on July 15. These were real production trades involving US Treasury repos, equity DVP and DVD settlements, and securities lending transactions. AdvertisementThe road to July 15The DTCC announced plans for limited production trades back in May 2026, setting July as the target window. The design philosophy behind the digital twins is notable: these tokens aren’t meant to replace traditional securities infrastructure.