HashKey Group has joined the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Advisory Services Industry Working Group as its first Asian digital asset service provider. The working group is focused on how tokenized securities can be issued, transferred, settled, and safeguarded within the systems that support global capital markets.
According to HashKey’s official announcement on September 2, the Hong Kong-based company joins more than 100 financial institutions, asset managers and digital asset firms in the group, including JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange.
HashKey’s tokenization experience
HashKey operates across digital asset trading, asset management and on-chain infrastructure, with activities spanning Hong Kong, Singapore, Japan and Bermuda. The company has been involved in tokenization initiatives in Asia since 2023. It participates in the Hong Kong Monetary Authority’s Project Ensemble Architecture Community and the Tokenised Bond Expert Group, which are focused on developing infrastructure for tokenized assets and financial markets.
HashKey has also supported the issuance and circulation of tokenized money market ETFs, bonds and notes in Hong Kong. The company said it will bring its regulatory and operational experience from the Asia-Pacific region to discussions around global tokenization standards.
DTCC tests tokenized securities
On May 4, 2026, DTCC announced that it had established the industry working group to bring traditional financial institutions and digital asset companies together around the development of its tokenization services. The planned model is designed to create tokenized representations of eligible securities already held by the Depository Trust Company (DTC), rather than moving the underlying assets outside the existing custody system.
This approach is intended to allow institutions to use blockchain-based transfers while maintaining established ownership records, compliance controls and investor protections.
DTCC completed its first batch of tokenized production-environment transactions on July 15. The transactions covered several institutional use cases, including collateral pledging, securities lending, U.S. Treasury repo delivery-versus-payment transactions and equity transfers.
The tests ran across DTCC’s private blockchain infrastructure based on Hyperledger Besu and the public Canton Network. Reported assets involved in the program included Microsoft and Circle shares, the Invesco QQQ Trust, the SPDR S&P 500 ETF and a BlackRock Treasury ETF. JPMorgan also completed a transaction involving shares of the Invesco QQQ Trust.
Why it matters
DTC held more than $114 trillion in securities assets as of 2025, according to DTCC. The scale of that custody base gives the tokenization initiative a direct connection to existing U.S. market infrastructure.
Nadine Chakar, managing director and global head of DTCC Digital Assets, said, “Innovation requires collaboration,” adding that DTCC brought industry participants together to help design its Tokenization Service and demonstrate how traditional and Web3 ecosystems can coexist.
Rather than building a separate blockchain-based securities market, DTCC is seeking to connect tokenized assets with existing custody and settlement infrastructure.
That could give institutional investors a way to use blockchain-based transfers while continuing to operate within established financial-market frameworks. However, the eventual impact will depend on the final service design and institutional adoption.
HashKey’s participation does not represent regulatory approval of its products, membership in DTC or a commercial agreement with DTCC.
DTCC plans to introduce standardized tokenization services in October 2026. The initial service is expected to include compliance and distribution controls, with additional capabilities for issuance, servicing, and corporate actions potentially added later.
HashKey will participate in the working group as DTCC moves toward the launch, bringing its experience across Asia-Pacific markets to discussions on how tokenized securities can interact with traditional financial infrastructure.
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