DTCC's Solana plan makes five networks on its roadmap; wallet rules keep tokens inside registered-participant walls

What was reported

DTCC said on Nov. 12 that it plans to connect its tokenization service to Solana in the second half of 2027. The service went live Oct. 28 on Canton Network and DTCC's private Besu network, and DTCC said at launch it would add more networks next year.¹

CoinDesk describes the Solana move as extending next year's roadmap beyond Stellar and Arc. Counting only networks named in these sources, DTCC's service now spans five: two live and three planned.²

Chain map, as reported (Nov. 12, 2026)

NYSE: the WSJ reported that it chose Avalanche as the sole settlement chain for its planned 24/7 platform. TSV, a permissioned venue on Canton, handled the Nov. 4 sale of tokenized $CNTN shares. Formation told the SEC it will run a Solana venue targeting early 2027. The Block notes that no US tokenized-stock venue is launching multichain.⁵

Avalanche C-Chain holds about 5% of tokenized-stock market cap in a $3.7 billion market. By MMOTIMES's rough calculation, that is about $185 million. The share is read off a chart, so treat it as approximate.⁵

Analysis: what fragmentation may cost

Scenario, not forecast: the named actors use six distinct chains (Canton, Besu, Stellar, Arc, Solana, Avalanche). Each pair of chains that must exchange the same security is a potential bridge or reconciliation point, and six chains give 15 such pairs. That 15 is MMOTIMES's arithmetic, not a reported figure. The Block notes that fracturing activity across networks would make deep liquidity hard to build under the SEC's 0.25% average-daily-volume cap per asset. DTCC's own assurance is that investor protections stay the same on every integrated network.¹⁵

Who can actually hold these assets

Under the December 2025 SEC no-action letter, DTC participants must register wallets to hold the tokenized securities. The tokens can move only between registered wallets. DTCC has named 20 participants, including large banks, and has not said whether any plan to use Solana.⁴

keeps these tokens in a walled garden of registered DTC participants⁴

Reforge partner Alex Lin said this means permissionless retail and DeFi liquidity cannot touch the tokens directly. Separately, Birdeye data shows more than 1 million Solana accounts held tokenized stocks by late September. Those are issuer-wrapped products outside DTCC's service, so DTCC-tokenized securities would reach a much narrower holder base.⁴

Analysis: chain choice may matter less than where secondary trading and collateral use settle. Lin and Birdeye's Kha Nguyen both said use, not issuance location, will decide the impact. Solana's tokenized RWA value rose from $4.46 billion to $4.76 billion in the month to Nov. 11, about 6.7%, while its transaction count fell almost 40%.⁴