Deutsche Börse Group’s post-trade business, Clearstream, on Thursday unveiled a hybrid digital securities infrastructure designed to handle both traditional and tokenized assets, with a staged rollout planned across 2026 and 2027, subject to regulatory approval.
The platform will cover the full securities lifecycle, including issuance, distribution, settlement, custody, asset servicing, liquidity, and financing. Clearstream said clients will be able to hold traditional securities, digital securities, and cash in one portfolio, with institutional-grade access to blockchain technology, crypto assets, and stablecoins. The infrastructure will operate under the EU’s MiFID and MiCA frameworks.
The system is designed to let institutional clients manage conventional and tokenized holdings inside the same servicing framework, rather than running separate legacy and DLT setups.
Clearstream said it is developing the platform with market partners, targeting use cases including large-scale tokenization, on-chain settlement, and collateral reuse across multiple transactions. The approach reflects a broader industry view that traditional infrastructure and distributed ledger technology will coexist for years, as outlined in a March 2026 interoperability white paper Clearstream published jointly with DTCC and Euroclear.
The initiative builds on Clearstream’s D7 digital issuance platform, which surpassed 4 million digital issuances in 2026. Clearstream holds €22 trillion in assets under custody and connects 60 markets worldwide.
