Hashgraph, the development team behind the Hedera network, has joined the DTC Industry Working Group. The group includes more than 150 members from traditional finance and digital markets. Its members discuss how the DTCC Tokenization Service (DTS) should work and where digital asset markets are heading. Hashgraph says it will share views on three topics. Those topics are industry readiness and standards, operational and technical workflows, and interoperability of DTC-tokenized assets across chains. Importantly, the group exists for dialogue and alignment. It does not decide which networks DTS supports, so membership signals participation rather than integration.
We’re proud to join the DTC Digital Assets Solutions Industry Working Group, convened by @The_DTCC and comprising more than 150 members across traditional finance and digital markets. We look forward to contributing our perspective on institutional tokenization and interoperability.
— Hashgraph (@hashgraph) October 28, 2026
Why DTC’s Scale Changes the Conversation
DTS lets participants convert eligible DTC-custodied securities into tokens and back again. Participants can also transfer those tokens between registered wallets on supported digital networks. Hashgraph points to roughly $30 trillion in DTC-held assets that could become eligible for tokenization, including equities, ETFs, and Treasuries. DTCC puts its total assets under custody above $114 trillion. In addition, the SEC staff issued a no-action letter in December 2025 that covers Russell 1000 stocks, index ETFs, and U.S. Treasuries. On July 15, more than 30 firms then ran real production trades with tokenized DTC-held securities. Those trades covered Treasury repo settlement, equity transfers, and margin workflows, and they ran on Canton and DTCC’s private Besu network. As a result, tokenization at DTC has moved well past the pilot stage.
The Core Argument: Oversight Comes First
Hashgraph builds its message around control. Tokenized securities open new ways to move assets and deploy collateral. However, the company argues that speed and programmability mean little to a regulated institution without oversight. Every action needs a clear owner. A firm must know which team can start a transfer, which approvals that transfer requires, and how it connects to existing operations. This framing matches how large institutions actually buy technology. Compliance and operations teams usually decide adoption, not the engineers who like faster settlement. Consequently, Hashgraph aims its products at those teams.
HashSphere: Private Networks With a Public Path
HashSphere lets financial firms run private, permissioned networks for regulated workflows. Each network can also connect to Hedera’s public network. Institutions therefore keep transaction privacy and compliance controls, while still reaching public network liquidity. This design answers a tension that runs through institutional crypto. Banks want confidentiality and control, whereas public networks offer reach and open participation. DTCC’s own approach shows the same split, since it runs both a private network and a public one. HashSphere offers firms a way to operate in both worlds without rebuilding their stack.
CLPR: Moving Assets Without Bridges
CLPR targets the interoperability problem. Applications built on CLPR aim to move tokens, data, and messages across networks. They do so without bridges, pooled liquidity, or intermediary validator networks. Bridge failures have cost the industry billions of dollars, so institutions treat bridge risk as a serious concern. The issue grows as DTC-tokenized assets spread across more than one chain. A token on Canton does not automatically move to a Besu wallet, and each network uses its own token standard. Hashgraph’s own product pages hold the technical detail, and DTCC has not named CLPR as part of DTS. Even so, the problem CLPR addresses sits squarely within the working group’s agenda.
Asseto: A Ready-Made Stack for Issuers
Asseto covers issuance and the lifecycle of a tokenized asset. ioBuilders built the platform, and Hashgraph offers it to clients. Institutions can issue, manage, trade, and settle tokenized assets from one modular system. They can run it on the public Hedera network or on a private HashSphere. Custodians, brokers, and asset managers benefit most, because they can handle tokenized securities without building the infrastructure themselves. Additionally, the platform pairs naturally with HashSphere, since both support the same public and private options. Together, these three products form Hashgraph’s case for what regulated firms need.
What to Watch Next
Joining the working group gives Hashgraph direct access to the firms that shape DTCC’s tokenization plans. The practical test will come from what happens next. DTCC vets any new network before it joins the service, and Hedera has not appeared on a public roadmap. Meanwhile, Hashgraph can build its case through client deployments of HashSphere and Asseto. Interoperability will likely become the sharper debate as more networks connect to DTC-linked assets. Hashgraph has now placed its answer on that question in front of the people who will decide it.
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