Broadridge Financial Solutions launched DLX on September 9, 2026, calling it an always-on digital asset infrastructure platform for tokenized markets. The Broadridge DLX tokenization platform lets institutions run tokenized and traditional securities through one operating layer. Notably, it ships with connectivity to the DTCC Tokenization Service via the Canton Network. That timing matters, because DTCC plans to open its service to full production in October 2026. Broadridge already runs the largest institutional tokenization platform in the world through its Distributed Ledger Repo (DLR) business. As a result, DLX enters the market with a track record most competitors cannot match.
BREAKING: Broadridge just launched DLX, their new institutional tokenization platform that connects into the DTCC Tokenization Service via Canton.
— King Solomon (Ryan Solomon) (@IOV_OWL) September 10, 2026
DLX builds on Broadridge’s DLR platform, which already processes $351B+ in daily repo on Canton. canton-network:native 🌊 pic.twitter.com/rYD04rdriS
What DLX Actually Does
DLX packages several capabilities that institutions previously had to assemble themselves. Broadridge lists multi-chain enablement, a programmable smart contract composer, 24/7 transaction capabilities, and integrated distribution. Additionally, the platform includes institutional-grade workflow orchestration that bridges onchain and off-chain activity. It covers the full asset lifecycle, from issuance and trading through settlement, servicing, custody, governance, and distribution. In terms of asset scope, DLX supports bonds, equities, funds, private markets, and money market instruments under a single framework.
Custody flexibility stands out as a practical detail. Firms can choose self-custody, third-party custody, or a hybrid model depending on their risk and regulatory posture. Meanwhile, the platform handles books and records, wallet infrastructure, and connectivity to payment rails. Horacio Barakat, Broadridge’s Global Head of Digital Innovation, framed the pitch around continuity rather than disruption. He said DLX gives firms “an accelerated pathway to operating on chain without sacrificing the controls, connectivity, and operating models they rely on today.” In other words, Broadridge wants banks to tokenize without rebuilding their back office.
Built on the World’s Largest Tokenized Repo Platform
DLX did not appear from nothing. It extends the DLR platform, which Broadridge launched in mid-2021 after pilots with Natixis and Societe Generale. DLR initially ran Daml smart contracts on VMware Blockchain. However, Broadridge migrated the platform to Canton in 2023, and volumes have climbed steadily since. In August 2025, DLR processed $280 billion in average daily repo, or $5.9 trillion for the month.
Those numbers kept growing through 2026. January hit $365 billion daily and $7.3 trillion monthly, a 508% year-over-year jump. April reached $368 billion daily and nearly $8 trillion for the month. By August 2026, the DLR product page reported $351 billion in average daily settled volume and $7.4 trillion in total. Importantly, DLR now supports cross-border atomic settlement across G7 government securities. Broadridge also works with Fnality, Kaiko, and RWA.xyz to connect DLR data and settlement to the wider market. DLX takes that same infrastructure and points it at asset classes beyond repo.
The DTCC Connection Explained
The DTCC Tokenization Service is the reason DLX’s launch timing feels deliberate. The Depository Trust Company received SEC no-action relief on December 11, 2025, authorizing a defined tokenization service for three years. Days later, DTCC and Digital Asset announced a partnership to tokenize DTC-custodied U.S. Treasuries on Canton. DTCC held roughly $99 trillion in securities under custody as of 2024. Consequently, even a small slice of that pool moving onchain represents meaningful scale.
The mechanics work like a controlled burn-and-mint process. A DTC participant instructs DTC to tokenize eligible securities from its book-entry position. DTC then debits that position, credits a Digital Omnibus Account, and mints a token to a registered wallet. Detokenization reverses the flow, and every wallet passes compliance screening before it can hold or move positions. Eligible assets include Russell 1000 constituents, major index ETFs, and U.S. Treasury bills, notes, and bonds. A working group of more than 50 firms shaped the design, including BlackRock, Goldman Sachs, J.P. Morgan, Morgan Stanley, Charles Schwab, Circle, and Kraken. DTCC ran its first limited production trades in July 2026, and full launch follows in October. DLX now gives Broadridge clients a direct route into that service from day one.
Why Canton Sits in the Middle
Canton became the first blockchain network DTCC deemed eligible to connect to its service. That relationship is not exclusive, but it reflects a design fit. Canton runs as a privacy-enabled, permissioned network where each institution controls its own node and data visibility. Meanwhile, the Global Synchronizer coordinates transactions across applications using Byzantine fault-tolerant consensus. This lets separate apps, such as DLR and DTCC’s tokenization service, settle atomically against each other without exposing confidential positions.
For Broadridge, Canton also solves a distribution problem. DLR already lives there, so DLX inherits the network’s existing counterparties, validators, and settlement rails. Digital Asset CEO Yuval Rooz said in December that DTCC’s involvement “not only accelerates industry adoption but establishes a foundation” for broader tokenization. In practice, that foundation now includes a repo engine, a Treasury tokenization service, and a multi-asset issuance platform sharing one synchronization layer. Few networks can point to that combination in production today.
What Comes Next
Broadridge says broader network connections and additional use cases will follow “in due course.” The first obvious extension is collateral mobility. Tokenized Treasuries from DTC could flow directly into DLR repo trades, enabling intraday financing cycles that settle in minutes rather than hours. Additionally, the equities and ETF eligibility in DTCC’s service opens the door to tokenized fund distribution through DLX. Broadridge already serves issuers, broker-dealers, asset managers, and wealth firms across its existing product lines.
The larger signal is that tokenization infrastructure is consolidating around incumbents rather than displacing them. DTCC controls custody, Canton provides the shared ledger, and Broadridge supplies the workflow layer institutions already trust. Consequently, the question for banks shifts from whether to tokenize to which stack to plug into. With $351 billion settling daily on DLR and DTCC’s October launch approaching, DLX makes a strong case for its answer.
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