Tokenized assets on Arc — who issues and settles them, not what they yield

As of 2 Sep 2026, Arc's confirmed tokenization footprint is narrow and specific: DTCC has a named integration to tokenize DTC-custodied assets on Arc, targeted for the second half of 2027; BlackRock (Integrates, Founding validator) is expected to bring its BUIDL fund onto the chain; Dinari (Issues) is a regulated tokenized-securities issuer listed on Circle's Arc ecosystem page; and Centrifuge, also listed there, is tokenization infrastructure rather than an issuer. This guide covers who can issue on Arc and how the settlement and custody chain is described. It does not cover what any tokenized instrument returns — that's a different question, owned by ArcYield, which tracks yield-bearing products on Arc directly.

Why this page draws a hard line at "issuance," not "return"

"Tokenized asset" gets used to describe two very different things: the technical and legal act of representing an off-chain asset as an on-chain token, and the yield or performance that token might pass through to a holder. Built on Arc's directory mandate covers the first — infrastructure, issuers, custody and settlement mechanics. The second belongs to ArcYield. That split matters here specifically because Arc's most concrete tokenization story, BlackRock's BUIDL, is a yield-bearing money-market fund token — its mechanics as an issuance are relevant to this page, but its return profile is not, and nothing below should be read as commentary on what holding a tokenized instrument earns.

DTCC: the confirmed integration, and its actual timeline

The clearest named tokenization commitment on Arc is DTCC's. Circle's 5 August 2026 founding-validator press release states that Circle is collaborating with DTCC "to enable the tokenization of The Depository Trust Company (DTC)-custodied assets on Arc beginning in the second half of 2027." DTCC is simultaneously a named founding validator — meaning the institution that runs the US's central securities depository is both securing Arc's consensus and building the specific tokenization rail on top of it. The release frames the resulting capability as letting market participants use applications for "stablecoin-native settlement outside of DTC but against DTC-tokenized assets" — in plain terms, settling trades in USDC against a token that represents an asset still legally custodied inside DTC's existing infrastructure, rather than moving the underlying security itself onto a public chain.

Two things follow from that description, and both are read directly off Circle's own language rather than inferred. First, the target date is specific and dated: second half of 2027, more than a year after Arc's own mainnet launch — this is not a mainnet-day capability. Second, the model as described keeps DTC as the custodial system of record; Arc functions as a settlement layer referencing DTC-held assets rather than replacing DTC's custody function. No further detail on which asset classes, what onboarding process for issuers, or what legal instrument represents the token has been published as of 2 Sep 2026.

Asset managers named around Arc

BlackRock's Built on Arc role is Integrates (Banks & Enterprises → Asset managers), Founding validator — not Issues. BUIDL is the product BlackRock brings onto Arc, not a token BlackRock mints as a native Arc issuer, so it is covered here under BlackRock rather than as a separate entry. Circle's release states BlackRock is expected to deploy BUIDL — its USD Institutional Digital Liquidity Fund — on Arc, enabling institutional investors to "subscribe, redeem, and deploy fund assets within a single onchain environment." That is a specific, named product commitment, distinct from the general validator mark. Separately, Circle's earlier 28 October 2025 testnet-launch release named a wider group of asset managers as testnet participants without specifying products: Apollo, Invesco, State Street and WisdomTree all appear in that list of more than 100 institutions. WisdomTree carries an Issues role (Stablecoins & Tokenized Assets) even at this testnet-only stage; Apollo, Invesco and State Street are not on the canonical role map and stay untagged pending confirmation. None of the four has a named product integration comparable to BlackRock's BUIDL as of 2 Sep 2026 — their presence confirms testnet-stage engagement with Arc broadly, not a confirmed tokenized-asset issuance plan. Treat that distinction carefully: appearing in a testnet participant list is a lower bar than being named for a specific product.

The infrastructure layer: who builds the tooling

Separate from the issuers themselves, Circle's own Arc ecosystem page lists a small "Tokenized Assets" group under its Infrastructure category: BlackRock, Centrifuge and Dinari. Centrifuge is a real-world-asset tokenization platform with an established multi-chain track record predating Arc; its listing on Circle's ecosystem wall signals it offers tooling for structuring and issuing tokenized assets rather than being an asset issuer itself — its role stays unassigned pending confirmation. Dinari is different: it is a regulated issuer of tokenized securities, and its Built on Arc role is Issues (Stablecoins & Tokenized Assets → Tokenized securities), not infrastructure — Circle's listing undersells what Dinari actually is, even though Built on Arc found no dedicated Dinari-on-Arc token confirmation beyond that ecosystem-page listing. Circle's ecosystem page is worth flagging for what it is: a BD-gated partner directory with no public submission path, organized under filter tags with no independent verification layer — appearing on it confirms a relationship Circle is willing to publicize, not a shipped, audited integration. Built on Arc did not find published technical documentation, audit reports, or case studies for either Centrifuge's or Dinari's specific Arc integration beyond that listing as of 2 Sep 2026.

What "tokenized" changes, and what it doesn't, legally

Nothing in Circle's or DTCC's published materials states that wrapping an asset as a token on Arc changes its underlying legal character — who owns it, what regulatory regime governs its issuance, or what rights a holder has. The DTCC integration as described explicitly keeps custody inside DTC's existing legal and operational framework; the token functions as a settlement-layer reference to that custodied asset, not a substitute for the custody arrangement itself. This is a general and important caveat for tokenization broadly, not an Arc-specific one: a token representing an asset is only as good as the legal enforceability of the claim it represents, and neither Circle nor DTCC has published details of that enforceability mechanism for the Arc integration specifically. Built on Arc is not qualified to assess, and does not assess, whether any specific tokenization structure achieves a particular legal outcome — that determination requires the actual offering and custody documents for each instrument, reviewed by qualified counsel.

What this page deliberately does not cover

Two adjacent questions belong elsewhere. What yield a tokenized instrument like BUIDL or a future DTCC-settled asset passes through, and how that compares to other on-chain yield sources, is ArcYield's coverage area, not this directory's. And Arc's own gas, staking and stablecoin mechanics — separate from tokenized real-world assets — are covered in Circle's Arc documentation directly.

Sources: - Circle: Founding Validator Cohort and Major Integrations for Arc - Circle: Arc Public Testnet launch, 28 October 2025 - Arc ecosystem page

*Built on Arc is an independent directory. Arc is a Circle product; we are not affiliated with, endorsed by, or operated by Circle.*