Morgan Stanley Tokenizes US Stocks and Treasuries Through DTCC's New Service Morgan Stanley has tokenized US stocks and bonds through the DTCC tokenization service, which launched on October 28. The service enables the creation of one-to-one securities-backed tokens, while maintaining the same rights and legal protections as the underlying assets. Trading in token shares is now expected to begin in the first quarter of 2027, with real-world token assets projected to reach $3 trillion to $10 trillion by 2030.