Fireblocks Details Citadel Securities’ DTC Tokenization Transactions

Fireblocks said in a September 24, 2026 post that Citadel Securities used its infrastructure to take part in the Depository Trust Company’s (DTC) live tokenization production initiative on July 15, 2026, creating a tokenized representation of U.S. Treasuries on the Canton Network and posting it to CME as collateral to fund trading activity.

According to Fireblocks, Citadel Securities used the DTCC Tokenization Service to create the tokenized representation of the U.S. Treasuries on Canton. The firm held the tokenized securities entitlement in its Fireblocks wallet, transferred it to counterparties’ DTC-registered wallets, including wallets registered to BNP Paribas and Société Générale, and then posted it to CME as collateral.

“Fireblocks delivered for us. We greatly valued their partnership and dedication in preparing for the tokenization event to make July 15th work smoothly,” Dan Doherty of Citadel Securities said in the post.

Fireblocks said moving high-quality assets between counterparties onchain can vastly improve capital and operational efficiency, particularly at scale, and that the ability to move assets around the clock, rather than during fixed operating hours, opens additional flexibility for market participants.

Fireblocks’ Infrastructure Role

Fireblocks provided validator node infrastructure giving Citadel Securities access to the Canton Network, as well as the interface used to onboard with DTCC and add wallet addresses, known as Party IDs, to DTCC’s allow list. It provided wallet infrastructure to hold tokenized securities entitlements, view balances and initiate or accept transfers; enabled fine-grained governance and policy rules to meet Citadel Securities’ internal risk requirements; and delivered daily reporting on balances and activity, according to the post.

Fireblocks described Citadel Securities as one of the world’s largest market makers and said the firm needed a digital asset infrastructure partner capable of supporting its scale and speed while meeting requirements for operational resilience and standard controls. Fireblocks enabled custody and native token transfer support to the Canton Network in February 2026 and was already extending its Canton capabilities for the DTC initiative when DTC opened the initiative to participants earlier in 2026.

The July 15 Production Event

The Depository Trust & Clearing Corporation (DTCC) announced on July 15, 2026 that it successfully converted assets held at DTC into tokens that were then used in real production trades, an event it described as the largest tokenization production initiative in breadth of use cases, asset classes and number of participants. More than 30 firms representing traditional financial institutions and digital market participants took part; DTCC’s participant list includes Citadel Securities, Fireblocks, BNP Paribas Securities Corporation, Societe Generale and CME Group.

The digital conversions occurred on LFDT’s Besu, DTCC’s private network, and Canton, a public network, as part of a multi-chain strategy DTCC said is intended to ensure resiliency, scalability and choice. Transactions in the DTC production environment, conducted over the course of several hours, spanned collateral pledge, security lending, U.S. Treasury and repo delivery-versus-payment, equity delivery-versus-payment, equity delivery-versus-delivery, equity token transfer and central counterparty margin workflows.

The DTCC Tokenization Service issues tokenized representations, also referred to as digital twins, of real-world assets that can be delivered to DTC Participant wallets, and DTC-held securities can be converted between traditional and tokenized forms. DTCC President and CEO Frank La Salla said the event showed the firm can apply the same institutional rigor to tokenization as it does for traditional assets while safeguarding the integrity and resiliency of the global financial markets. “Market participants will soon have the best of both worlds because DTC-tokenized assets maintain the same investor protections, entitlements and ownership rights as traditional securities, all while enabling greater efficiency, programmability and security,” said Brian Steele, DTCC’s President of Clearing & Securities Services. Nadine Chakar, Managing Director and Global Head of DTCC Digital Assets, said the safest and most direct path to decentralization runs through trusted financial market infrastructures and that legacy and Web3 ecosystems can coexist without disruption.

The milestone came seven months after DTC received a no-action letter from the U.S. Securities and Exchange Commission authorizing DTC to operate a tokenization service for the real-world assets it custodies, according to DTCC. The service was created in collaboration with the DTCC Industry Working Group, which DTCC said has grown to more than 100 members and partners.

The DTCC Tokenization Service is anticipated to launch in October 2026 as a voluntary service for eligible DTC Participants. Fireblocks said the service is initially expected to support certain eligible securities, including U.S. Treasury securities, securities in the Russell 1000 Index and exchange-traded funds that track major market indices. DTCC has said the service will allow DTC Participants to access new liquidity pools and execute digital asset strategies with greater flexibility.

In a July 21, 2026 post, Fireblocks said its Canton support includes full-custody wallets backed by in-house validator nodes running in two regions with disaster recovery, interoperability with standard-compatible wallets and decentralized applications under CIP-0103, native Canton Coin transfers via the CIP-056 token standard, USDC on Canton, self-serve listing of token-standard-compliant assets, two-step transaction flows in which an incoming transfer arrives as an offer the receiving institution explicitly accepts, Bring Your Own Validator connectivity for customers running their own Canton validator node, and Daml contract calls for settling delivery-versus-payment trades, pledging collateral and running repos. Eric Saraniecki, Head of Network Growth at Digital Asset, the creator of the Canton Network, said in the same post that Fireblocks’ support on Canton would be instrumental to the next wave of adoption.

Fireblocks said the July 15 event was a proof point for the anticipated launch, and that Citadel Securities, having now seen the service run in production, has partnered with Fireblocks to support its longer-term digital asset ambitions at scale.