The Depository Trust & Clearing Corporation (DTCC) has announced its acquisition of digital asset infrastructure developer Securrency. The deal will enable DTCC to gradually incorporate digital assets into its existing products and services. The financial terms of the agreement have not been disclosed, but the acquisition is expected to be finalized in the coming weeks. Following the acquisition, Securrency will be rebranded as DTCC Digital Assets, and its management team and approximately 100 employees will remain with the company. Securrency was previously supported by State Street, U.S. Bank, WisdomTree, and Abu Dhabi Catalyst Partners, and had partnered with cybersecurity and digital asset custodian GK8. DTCC President and CEO Frank La Salla stated that the combination of DTCC’s network of financial market participants and Securrency’s technology will position the company as a leader in unlocking the value of digital assets. As part of the agreement, DTCC will also license Securrency’s technology and offer professional services, while promoting interoperability among distributed ledger solutions. WisdomTree already utilizes Securrency software in its WisdomTree Prime digital asset platform. DTCC is the largest clearing and settlement service in the United States, processing $2.5 quadrillion in securities settlements in 2022. Its depository subsidiary provides custody and asset servicing for securities from over 150 countries and territories worth $72 trillion. Securrency has been involved in blockchain technology since 2020 and previously collaborated with the Digital Dollar Project on a securities settlement pilot project using a simulated digital dollar.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Frank La Salla |
| Companies | State Street, Securrency, U.S. Bank, WisdomTree, Depository Trust & Clearing Corporation (DTTC) |
| Currencies | None |
| Securities | None |
