Sentry · est. 2026 · United States

Rebuilding capital markets to power American innovation.

Sentry is the institutional settlement layer for tokenized equities, treasuries, and private securities — a protocol-native replacement for the DTCC, NSCC, and ATS stack, engineered from first principles for clearing, issuance, and transfer at internet speed.

New York Stock Exchange · Broad Street facade · Photo: Jakub Hałun · CC BY 4.0

The new DTCC.

Sentry is a protocol-native replacement for the central infrastructure underneath U.S. capital markets — re-implemented in software that runs on a permissionless base, with the capabilities institutions actually need.

The Depository Trust & Clearing Corporation is the central nervous system of U.S. equity markets. It clears every trade. It holds every share. It processes every dividend, corporate action, and brokerage transfer. It moves $2.15 quadrillion a year on $103 billion of participant deposits. And the system that does it was designed in 1973.

Sentry rebuilds that system — the clearing, the depository, the transfer agency, the netting — as one protocol. Same job. Different century.

Function
DTCC, today
Sentry
Settlement
T+1 batch through a central counterparty.
Sub-second atomic, or epoch-netted for qualified participants.
Custody
Centralized depository — DTC holds the certificates.
Native ownership at issuance. The token is the security.
Brokerage transfer
ACATS — roughly six business days.
A single state transition.
Membership
Restricted clearing-member access.
Permissionless base, with a qualified-participant tier.
Asset coverage
Public equities and a narrow set of fixed income.
Equities, treasuries, derivatives, and private securities.
Privacy
Member-visible order flow and positions.
Per-application zero-knowledge — composable across the protocol.
Operating model
A single SIFMU intermediary.
A decentralized protocol with consensus-level enforcement.

The settlement, issuance, and trading layer for U.S. capital markets.

01
Settlement

Replacing DTC and NSCC.

Permissionless transactions clear atomically. Qualified participants opt into epoch-based settlement with multilateral netting and bilateral credit, replicating the capital efficiency of a central clearinghouse on a permissionless base.

02
Issuance & transfer

Programmable cap tables. Instant ACATS.

Issuers tokenize equity and debt directly on the protocol, with qualified-participant gating, transfer-agent semantics, and lifecycle rules expressed in code. The six-day brokerage transfer becomes a single state transition.

03
Trading venues

ATS-grade privacy without sacrificing composability.

Each venue runs inside its own validator subnet, encrypting order flow from competitors and preserving execution privacy. A global coordinator orders commitments and verifies ZK proofs — assets and balances remain composable across the whole protocol.

TokenizationCap tableTransfers
01

Issuers

Programmable token issuance, qualified-participant gating, and instant transfer-agent semantics. Replaces manual cap tables and the six-day ACATS transfer.

ATSOrder-flow privacyComposable
02

Trading venues

ATS-grade order-flow privacy via per-application validator subnets. Composable with shared state — token balances, collateral, and settlement coordinate across the protocol.

NettingCreditMargin
03

Institutions

Qualified-participant infrastructure with epoch-based settlement, multilateral netting, and bilateral credit. The capital efficiency of a clearinghouse without the central intermediary.