DTCC enters digital asset space through acquisition of Securrency
The acquisition of Securrency is a landmark development in the digital asset space, signaling a paradigm shift in institutional adoption and market infrastructure.
The Depository Trust & Clearing Corporation (DTCC), a backbone of the global financial services industry, has announced its definitive agreement to acquire Securrency Inc., a leading developer of institutional-grade digital asset infrastructure.
The move is poised to cement DTCC’s role as a global leader in integrating industry best practices with advanced digital technology, thereby accelerating the acceptance and adoption of digital assets.
Digital lifecycle processing for tokenized assets, digital currencies, and more
The acquisition will result in Securrency becoming a fully-owned subsidiary of DTCC, rebranded as DTCC Digital Assets. Frank La Salla, President, CEO, and Director, DTCC, said, “Securrency is an important strategic acquisition that will give us the technology to drive market-wide transformation by enabling end-to-end digital lifecycle processing for tokenized assets, digital currencies, and other financial instruments.”
Nadine Chakar, CEO of Securrency, will assume the role of Managing Director, Global Head of DTCC Digital Assets, reporting to Lynn Bishop, DTCC Managing Director and CIO. Additionally, Securrency’s CTO Dan Doney, COO John Hensel, and about 100 other staff members will join DTCC.
DTCC aims to fast-track the development of its enterprise digital asset platform by integrating Securrency’s technology. This will enable the corporation to embed digital assets within its existing products and services, and explore use cases for blockchain-based solutions in collaboration with buyside asset managers, broker-dealers, and custodians.
Reimagining compliance, liquidity, efficiency, and interoperability
Besides, DTCC plans to license the Securrency technology to other firms, enabling them to transform their operating models and create innovative digital asset services. “Together, we will unlock opportunities to reimagine compliance, liquidity, efficiency, and interoperability in trading real-world assets on the blockchain,” Chakar said.
DTCC also intends to spearhead efforts to standardize digital technologies to prevent market fragmentation. La Salla emphasized the need for “building consensus around the standards, controls, and frameworks necessary to support regulatory-compliant digital asset solutions.”
DTCC’s digital asset strategy aims to extend its core services to the digital asset ecosystem and deliver end-to-end, no-touch processing. Its priorities include exploring digital products and services, establishing a control framework for digital asset securities, executing client-driven pilots, and fostering industry dialogue on interoperability.
The acquisition of Securrency is a landmark development in the digital asset space, signaling a paradigm shift in institutional adoption and market infrastructure.
