In a swift move, the Depository Trust & Clearing Corporation (DTCC) has successfully closed the acquisition of Securrency, a prominent player in tokenization technology. The acquisition, announced in mid-October, has culminated in the integration of Securrency’s capabilities into the newly formed DTCC Digital Assets division.
DTCC Digital Assets, reporting to Lynn Bishop, Managing Director, and Chief Information Officer, is spearheaded by Nadine Chakar, the former CEO of Securrency, who now serves as the global head of the division. Chakar also holds a position on the 12-member DTCC management committee alongside Lynn Bishop.
Frank La Salla, President, CEO, and Director of DTCC, expressed enthusiasm about the future, stating, “We look forward to providing global leadership to establish a robust digital infrastructure that protects the safety and soundness of financial markets and delivers on the enormous promise and potential of institutional DeFi in the coming years.”
The acquisition marks a strategic move by DTCC to enhance its digital asset capabilities and facilitate the seamless integration of tokenization technology into the financial markets. Securrency’s technology will continue to be available under license, with WisdomTree Prime currently leveraging Securrency’s technology for its digital assets offering.
Notably, DTCC has been actively involved in shaping the landscape of digital assets. In September, DTCC, along with Clearstream and Euroclear, presented a paper advocating for their roles as digital asset coordinators to address the issue of interoperability among independent tokenization platforms. This acquisition of Securrency aligns with DTCC’s commitment to driving innovation in the digital asset space.
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