DTCC closes Securrency acquisition
11 December 2023 US
Image: PaulShlykov/stock.adobe.com
The Depository Trust and Clearing Corporation (DTCC) has now closed on its transaction to acquire blockchain-based fintech firm Securrency.
Announced in October, the acquisition aims to drive the development of the digital post-trade infrastructure.
Following this news, the Securrency brand has been retired and renamed DTCC Digital Assets.
It will operate as a business within DTCC under the responsibility of DTCC鈥檚 Lynn Bishop, managing director and chief information officer.
DTCC Digital Assets will align with Securrency鈥檚 compliant tokenisation technology to unlock opportunities to reimagine compliance, liquidity, efficiency and interoperability in trading real-world assets on the blockchain.
Frank La Salla, DTCC president, CEO and director, says: 鈥淲e are excited to bring together our people, expertise and respective technologies to create a powerful combination that will help the industry unlock the value of digital assets and drive market-wide transformation.
鈥淲e 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 decentralised finance in the coming years.鈥�
Announced in October, the acquisition aims to drive the development of the digital post-trade infrastructure.
Following this news, the Securrency brand has been retired and renamed DTCC Digital Assets.
It will operate as a business within DTCC under the responsibility of DTCC鈥檚 Lynn Bishop, managing director and chief information officer.
DTCC Digital Assets will align with Securrency鈥檚 compliant tokenisation technology to unlock opportunities to reimagine compliance, liquidity, efficiency and interoperability in trading real-world assets on the blockchain.
Frank La Salla, DTCC president, CEO and director, says: 鈥淲e are excited to bring together our people, expertise and respective technologies to create a powerful combination that will help the industry unlock the value of digital assets and drive market-wide transformation.
鈥淲e 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 decentralised finance in the coming years.鈥�
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