The official token of the US stock market has really arrived, with limited trading starting in July and officially launched in October. DTCC announced last night the development of DTC tokenization services and convened an industry working group consisting of over 50 financial institutions to jointly promote the adoption of digital assets. Simultaneously announcing the progress of the event: 1) In July 2026, initiate initial limited production trading to trade real-world assets generated through DTC tokenization services. 2) The service will be officially launched in October 2026. DTC has also introduced before that the American Depository Trust Limited, the largest central securities custodian, settlement, clearing, and asset service provider in the United States, can be said to be the "main warehouse" and "general ledger room" of the US stock market. Looking at the members of the DTC tokenization working group, including the New York Stock Exchange, NASDAQ, Bank of America, Goldman Sachs, Morgan Stanley, Circle, Kraken, etc., they almost cover the most important traditional financial and cryptocurrency industry institutions in the United States. Last December, DTCC also received a non objection letter from the SEC. Coupled with DTCC's industry status, it can be said that DTCC's US stock tokenization is a true official token. 1. Discuss the DTC tokenization model DTC, as the central custodian, still holds ownership of the underlying real securities, converting participants' "security interests" into token form on the blockchain, achieving programmable transfer on the chain, while retaining all legal rights, investor protection, and reliable endorsement of traditional securities by DTC. The first batch of online assets include Russell 1000 index constituent stocks, ETFs tracking major indexes, and US treasury bond bonds (T-bills, bonds, notes). Focus on highly liquid assets with existing deep liquidity. Almost all of the main asset targets on the US stock market will be tokenized in the first batch 2. Core Technology Architecture Technical Architecture: Composer X Platform Suite The core technology of DTCC is Composer X (launched in early 2025), an end-to-end platform that is protocol agnostic and DLT agnostic, supporting both public and private chains, emphasizing interoperability and institutional level control. 1) Factory (tokenization engine): the core casting tool. Support ERC-20, ERC-3643 and other standards, embed rich data patterns (self defining tokens), achieve automatic compliance, role permission management, pricing/reference data. 2) LedgerScan: an off chain monitoring tool that scans approved chains and updates DTC records in real-time, providing observability and risk control. 3) Capital Markets Platform (CMP): A full lifecycle management platform that handles issuance, distribution, trading, asset services, corporate actions, and more. API driven, seamlessly integrated with traditional legacy systems. 4) Interoperability: Supports multi chain (initially several compatible chains, later expanded), allowing tokens to flow between different approved networks, truly bridging TradFi (traditional finance) and DeFi. Possible addition of DTC internal settlement options in the future 3. Let's talk about two issues that everyone is more concerned about 1) Can DTC's US stock tokens circulate on the public chain According to official statements, the official launch in October 26 will support several compatible chains, including DTCC's AppChain, an Ethereum compatible enterprise chain based on open-source Hyperledger Besu technology (permitted but EVM compatible); Another is Canton Network: a public blockchain developed by Digital Asset that emphasizes institutional privacy and interoperability, and has been used in some pilot projects for tokenization of US Treasury bonds. The official clearly supports various public and private blockchain networks, as long as they meet the technical standards set by the SEC (reliability, resilience, security, observability, compliance features, governance mechanisms, etc.). Ethereum (including L1/L2) is likely to support it in the future, as DTCC supports EVM standards such as ERC20 and ERC-3643, Composer X is also compatible with EVM, and there have been demonstrations/collaborations before. After the limited production trading in July 2026 and the launch in October, DTC will announce the approved list of public chains, 2) Can non US users trade Users (institutions or retailers) from non US regions can, in principle, indirectly participate in the trading/holding of DTCC tokenized securities through qualified intermediaries, but cannot directly participate as DTC participants. There are strict regulatory, compliance, and intermediary thresholds DTC Participants are mainly large financial institutions such as US brokers and banks, as well as some foreign banking entities (such as through US branches or eligible foreign banks). Retail/individual users, theoretically possible, but there should be a threshold. In the future, if various CEX are connected, basically all non US retail investors should be able to trade. The SEC has been promoting the tokenization of US stocks/securities for nearly a year, and it is finally about to land. In the future, CEX and various on chain platforms will directly integrate DTC's US stock tokens, truly transforming into on chain securities firms. This article is sponsored by @ bitget_zh, titled 'Bitget Buying US Stocks: Instant Entry, Smooth Trading'