Securrency enhances institutional compliance by integrating blockchain-based regulatory technology with legacy systems, facilitating the adoption of digital assets.
The prominent U.S.-based clearinghouse, Depository Trust & Clearing Corp. In an official statement on Thursday, it was revealed that Securrency would become a wholly-owned subsidiary of DTCC, operating under the name DTCC Digital Assets. This acquisition underscores the growing integration between traditional financial infrastructure (TradFi) and blockchain technology, as banks and asset managers strive to tokenize real-world assets (RWA).
DTCC, the clearinghouse for U.S. stock markets, managed an impressive $2,500 trillion in securities transactions last year. Securrency offers institutions blockchain-based regulatory technology integrated with existing legacy systems, facilitating the compliant adoption of digital assets.
Tokenization involves migrating traditional assets like private equity, credit, and real estate onto blockchain platforms, increasing efficiency and reducing transaction costs. In a report, digital asset manager 21.co projected that the tokenized assets market could expand to a range of $3.5 trillion to $10 trillion by 2030.
Securrency CEO Nadine Chakar expressed enthusiasm about uniting DTCC’s infrastructure prowess with Securrency’s technology, paving the way for a future where the digitization of capital markets takes center stage in the world of innovation. It’s worth noting that Chakar, formerly the head of digital at the asset management powerhouse State Street, joined Securrency after her tenure there.
Chakar added, “These capabilities will enable DTCC to collaborate with the industry in establishing a robust and expandable infrastructure crucial for the widespread acceptance of digital assets. Together, we will uncover possibilities to redefine compliance, liquidity, efficiency, and interoperability in the trading of tangible assets on the blockchain.” Although the press release did not specify the purchase price, Bloomberg disclosed that it was approximately $50 million.
