TradFi-Blockchain Settlement Migration: Key Milestones
Sequential infrastructure decisions creating an irreversible migration path from traditional to blockchain settlement.
Jul 2025GENIUS Act Signed
First comprehensive US federal stablecoin framework
Dec 11, 2025DTC SEC No-Action Letter
$100T+ asset tokenization pilot authorized for 3 years
Dec 17, 2025DTCC-Canton Partnership
US Treasury securities tokenization on Canton Network
Mar 2, 2026OCC GENIUS Act NPRM
Tokenized T-bills permitted as stablecoin reserves
Mar 9, 2026Nasdaq-Kraken Gateway
xStocks-powered equities via DTC settlement
Q3 2026First Token-Settled Trades
DTC infrastructure processes first tokenized equity settlement
H1 2027Full Nasdaq-Kraken Launch
Tokenized Nvidia, Tesla available to global investors
Source: DTCC, Nasdaq, OCC
RWA Tokenization: Current Scale vs Total Addressable Market
Current tokenization represents a tiny fraction of the total market, indicating massive growth runway.
$8.86B
Tokenized Treasuries AUM
▲ 0.032% of $28T total
$19.4B
Total RWA Market
▲ McKinsey: $2T by 2030
$100T+
DTC Custodied Assets
▲ Pilot authorized
$25B
xStocks Volume (<1 year)
▲ 85K+ holders
Source: rwa.xyz, DTCC, Kraken