The Depository Trust & Clearing Corporation (DTCC) will begin a limited pilot to place representations of U.S. Treasury securities held at its depository subsidiary onto a blockchain, marking the first live test of onchain assets directly tied to DTC custody under U.S. regulatory approval. The project, announced Wednesday in partnership with Digital Asset and the Canton Network, follows a recent Securities and Exchange Commission no-action letter allowing DTC to experiment with tokenizing certain security entitlements within a narrowly defined framework.