DTCC Acquires Securrency to Bolster its Digital Asset Infrastructure

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Published: December 11, 2023 at 9:55 am Updated: December 11, 2023 at 9:55 am

Edited and fact-checked:
December 11, 2023 at 9:55 am

In Brief

DTCC’s acquisition of Securrency represents a significant step in integrating advanced digital technology into financial services.

The US Depository Trust and Clearing Corporation (DTCC) announced the successful completion of its acquisition of blockchain-based financial and regulatory technology company Securrency, a move poised to significantly enhance DTCC’s position in the digital assets market.

The acquisition will see Securrency rebranded as DTCC Digital Assets, operating as a business unit within DTCC.

Frank La Salla, President, CEO, and Director of DTCC, expressed that the acquisition of Securrency is a strategic move that provides DTCC with the necessary technology to drive market-wide transformation. DTCC will achieve this by enabling comprehensive digital lifecycle processing for tokenized assets, digital currencies, and other financial instruments.

DTCC aims to accelerate the development of its enterprise digital asset platform by integrating Securrency’s technology.

This integration will enable DTCC to incorporate digital assets into its existing products and services. Additionally, it will explore blockchain-based solutions in collaboration with various stakeholders in the financial industry.

DTCC to Expand its Enterprise Digital Asset Platform

DTCC plans to license Securrency’s technology to other firms, enabling them to transform their operating models and create innovative digital asset services. This strategy aligns with DTCC’s goal to reimagine aspects such as compliance, liquidity and efficiency in the trading of real-world assets on the blockchain.

Additionally, DTCC is actively leading efforts to standardize digital technologies, aiming to prevent market fragmentation. La Salla highlighted the importance of building consensus around standards, controls, and frameworks to support regulatory-compliant digital asset solutions.

DTCC’s digital asset strategy is expansive, aiming to extend its core services to the digital asset ecosystem. The corporation prioritizes exploring digital products and services, and establishing a control framework for digital asset securities. It is also focused on executing client-driven pilots and fostering industry dialogue on interoperability.

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About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti