The announcement yesterday (October 19) that DTCC is acquiring the blockchain fintech Securrency is a resounding signal to the global financial industry that they are serious about their commitment to digital assets and the technology required to support them. Not an organization to take acquisitions lightly, DTCC is putting a resolute stake in the ground not just about their commitment to the asset class but also about taking a leadership role in providing a resilient global digital infrastructure.
Joining the vision and considerable firepower of these two entities gives institutional adoption of digital assets its greatest chance of success. The combined fully owned subsidiary, DTCC Digital Assets, will be run by Nadine Chakar who proved her chops at State Street prior to joining Securrency as CEO. And DTCC already has a blockchain stock settlement platform in production in its Project Ion and has been working with several providers in the DLT space to explore the emerging technology.
It will be exciting to watch the developments that come out of the new division as it deep dives into use cases across the digital transaction process. As the U.S. and Canada approach a shortened settlement cycle, this development appears poised to support an inevitable future T+0 settlement time. According to the joint press release, DTCC Signs Definitive Agreement to Acquire Securrency Inc., DTCC Digital Assets will also be exploring collaboration with the industry on ‘new DTCC blockchain-based solutions.’
This strategic move is a bold step towards the integration of traditional financial markets with the developing digital assets landscape. DTCC’s commitment to innovation and its willingness to evolve is demonstrated by its alignment with Securrency, a pioneer in the blockchain space. Collaborations such as this point to a future where digital assets and traditional financial instruments coexist and complement each other. Every market participant, from investors to regulators, will be watching the effects of this collaboration.
