DTCC is moving DTC-custodied securities into production on @CantonNetwork. As Zenith joins the industry working group supporting @The_DTCC’s Tokenization Service, the focus is expanding from bringing assets on-chain to the applications that can be built around them.
The Depository Trust Company (DTC), @The_DTCC’s depository subsidiary, provides custody and asset servicing for securities valued at approximately $114 trillion.
Zenith is building Ethereum- and Solana-compatible execution for Canton, extending its privacy-preserving institutional infrastructure with native EVM and SVM environments that are atomic in Canton workflows. As part of the Working Group, Zenith will contribute this experience to discussions around interoperability standards, cross-environment settlement and the infrastructure required to make institutional assets programmable across a broader ecosystem of decentralized applications and liquidity.
@HeslinKim, Co-Founder and CBO at Zenith
DTC-tokenized securities are already being used in production
DTCC convened its Industry Working Group in May as it prepared for limited production transactions using DTC-tokenized securities. The group has since grown to more than 100 participating firms, including @BlackRock, @jpmorgan, @GoldmanSachs, @Citi, @Nasdaq, @NYSE, and @digitalasset.
In July, DTCC and more than 30 market participants completed live production transactions using DTC-tokenized securities, with digital conversions taking place on Canton Network and DTCC’s private Besu network as part of its multi-chain strategy. The transactions included U.S. Treasuries, equities and ETFs across repo, securities lending, collateral and delivery-versus-payment workflows. Canton has documented these production use cases in more detail.
The next milestone is the targeted October launch of the DTCC Tokenization Service. Canton is already preparing the infrastructure and connectivity needed for market participants to access DTC-custodied tokenized securities, with technical guidance available through its dedicated DTCC Tokenization Service Hub.
The growing availability of securities on-chain creates a larger surface for applications built around those assets. Canton provides the privacy-preserving infrastructure for synchronized institutional workflows; Zenith extends that environment with Ethereum-compatible execution, allowing applications built with Solidity and standard EVM tooling to interact with Canton-native assets and workflows.
A tokenized Treasury, for example, could be used as collateral in a Canton workflow while related application logic executes on Zenith EVM. Zenith’s architecture makes the Canton and EVM operations atomic, so the collateral operation and corresponding EVM state transition settle together. This is the model Zenith has been developing through external_call(), the extension of Canton's MainNet consensus, and the work under CIP-0091. Rather than moving an asset through a conventional bridge into an independently settling environment, EVM execution can participate directly in the Canton transaction workflow.
An application ecosystem is already taking shape
As the DTCC Tokenization Service approaches production, the application ecosystem around those assets is already beginning to take shape. Recently, speaking at the Canton Summit, Digital Asset co-founder @YuvalRooz said that around 50 vendors are preparing to build applications on Canton as DTCC moves into production, pointing to the combined scale of the U.S. equity and Treasury markets - close to $70 trillion - as a reason to rethink the scale at which on-chain financial infrastructure is measured.
Zenith is building for this emerging application ecosystem. Institutional assets and workflows are coming to Canton, while much of the developer stack, DeFi ecosystem and liquidity has developed around Ethereum and Solana. Zenith is connecting these environments through EVM and SVM execution that can participate atomically in Canton workflows. Zenith's participation in the Working Group brings that perspective directly into the development of institutional tokenization infrastructure.
Zth.
About Zenith:
Zenith is the EVM and SVM extension for Canton Network, co-architected with Digital Asset's co-founders alongside Canton's core protocol development. Zenith gives developers a way to deploy Ethereum- and Solana-compatible applications that interact directly with Canton's privacy-preserving infrastructure, bringing existing Solidity and Rust applications on-chain without building new infrastructure from scratch. Through Zenith EVM and Zenith Stack, institutions and developers can run DeFi primitives, RWA protocols, lending markets, and payment flows alongside the workflows already operating on Canton at U.S. securities-market scale.
Zenith, the registered Tier-1 Canton Super Validator, is trusted by the institutional groups shaping tokenized finance today - including Progmat's JGB working group and DTCC's Digital Assets Solutions Industry Working Group.
