DTCC's first live production trades using tokenized securities show how blockchain could reshape the infrastructure behind Wall Street.

DTCC is piloting the tokenization of stocks and Treasurys with JPMorgan, BlackRock, and other major firms ahead of a planned October launch.

JPMorgan will tokenize part of its Invesco QQQ Trust holdings held at DTCC, while Microsoft, Circle, and SPY shares will also be tokenized.