Tokenization has spent years as a conference-panel favorite. At Sibos 2026, the conversation came with launch dates attached.
Nadine Chakar, Managing Director and Global Head of Digital Assets at DTCC, sat down with Chainlink co-founder Sergey Nazarov. They discussed what it will take for tokenized markets to grow up: rails that are interoperable, compliance-aware and able to scale. The timing matters because DTCC plans to fully launch its DTC tokenization service in October 2026.
What Chakar and Nazarov actually said
The two focused on the unglamorous requirements that separate a pilot from a functioning market. Compliance features ranked near the top of the list. So did round-the-clock operability, particularly for tokenized equity.
Chakar pushed the conversation away from the shiny object. She argued that the industry should prioritize infrastructure that streamlines processes no matter what type of asset is involved. In her framing, robust systems matter more than the specific method used to move an asset from one party to another.
Nazarov picked up the institutional thread. He suggested that adoption by large financial players could be strengthened through mechanisms like DTCC’s AppChain for tokenized stock.
DTCC’s tokenization timeline
In December 2025, the SEC issued DTCC a No-Action Letter. It authorized a controlled environment for tokenizing DTC-custodied assets for three years.
Then, in July 2026, DTCC conducted preliminary trades of tokenized US securities with major institutions. Those initial trades set the stage for the full rollout of the DTC tokenization service, which is slated for October 2026.
The next piece on the roadmap is the DTCC Collateral AppChain. It incorporates Chainlink’s Cross-Chain Interoperability Protocol, or CCIP, a system designed to connect different blockchains so assets and data can move between them. The Collateral AppChain is projected to launch in Q1 2027.
The pitch is near real-time collateral management across multiple markets and blockchain environments.
The people and the stage
Chakar joined DTCC in 2023 following its acquisition of Securrency, where she served as CEO and oversaw tokenization initiatives. She now sits on DTCC’s Executive Committee.
Sibos 2026 ran from September 28 to October 1, 2026, in Miami Beach, Florida. This year’s theme was “Digital finance for AI-driven economies.” Alongside tokenized securities, sessions touched on tokenized cash and the role AI could play in smoothing operations across financial systems.
What this means for markets and institutions
The SEC No-Action Letter is central to institutional participation. A three-year controlled environment gives large asset managers and banks a defined window to participate without guessing where the regulatory lines sit.
Chainlink’s CCIP being built into the Collateral AppChain places Chainlink’s interoperability technology inside a project run by one of the core institutions of US market infrastructure, although the Collateral AppChain is still projected for Q1 2027 rather than live today.
The things to track from here are fairly concrete. Watch whether the DTC tokenization service launches on schedule in October 2026, which institutions participate, and whether round-the-clock trading of tokenized equity becomes a working feature. After that, the Collateral AppChain’s progress toward its Q1 2027 target will show whether cross-chain collateral is ready for real institutional volume.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.