Citadel Securities has selected Fireblocks to provide digital asset infrastructure to support its tokenisation initiatives. The decision follows a successful live demonstration on 15 July, during which Citadel deployed Fireblocks technology to participate in a pilot that was led by the Depository Trust and Clearing Corporation (DTCC). The demonstration served as a precursor to the official launch of the DTCC Tokenization Service, which is scheduled to go into live production in October 2026.
Fireblocks was selected due to its support for the Canton Network, a privacy-enabled blockchain purpose-built by Digital Asset for regulated institutional finance. Specifically, Fireblocks supports custody of Canton Coin, the native coin of Canton, and it is a qualified custodian chartered by the New York State Department of Financial Services.
During the 15 July pilot, Citadel used the DTCC Tokenization Service to generate a tokenised representation of US Treasuries on Canton. It managed these tokenised security entitlements within a Fireblocks wallet, transferred them to Depositary Trust Company-registered wallets held by counterparties including BNP Paribas and Société Générale, and subsequently posted the assets to the Chicago Mercantile Exchange as collateral for trading activities.To facilitate this integration, Fireblocks provided a suite of infrastructure services to Citadel, including a validator node for network connectivity, an interface to manage onboarding and wallet registration with DTCC, and secure wallet infrastructure for holding assets and managing transfers. Additionally, Fireblocks provided daily activity reporting and fine-grained governance rules tailored to meet internal corporate risk mandates.
When the DTCC Tokenization Service enters production, it will support select eligible assets, including US Treasury securities, Russell 1000 Index securities, and exchange-traded funds tracking major market indices.
Founded in 2018, Fireblocks provides a multi-layered infrastructure designed to eliminate counterparty risk, single points of failure, and operational errors when handling digital assets. At its core, the platform combines proprietary Multi-Party Computation (MPC-CMP) cryptography with hardware-isolated Intel SGX enclaves to split and secure private keys, ensuring that no single party can independently compromise funds.
This core functionality supports a number of digital assets services, including wallets hosted on 60 blockchain networks, a tokenisation engine that provides end-to-end minting and transfer of tokens, and a secure smart contract library.
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