The Depository Trust and Clearing Corporation (DTCC) has announced its plans to acquire Securrency, a renowned firm in digital asset infrastructure development. The acquisition aligns with DTCC’s strategy of integrating digital assets into its existing products and services. The specific details of the deal are undisclosed but are expected to be finalized in the coming weeks.

Post-acquisition, Securrency will undergo a rebranding as DTCC Digital Assets. This rebranding will not affect the existing workforce, with the senior leadership and around 100 employees remaining part of the newly branded entity.

Securrency’s growth has been supported by investments from significant players like State Street, U.S. Bank, WisdomTree, and Abu Dhabi Catalyst Partners. The company has also collaborated with GK8, a cybersecurity and digital asset custodianship firm.

DTCC plans to make Securrency’s technology available for licensing, promoting interoperability among different distributed ledger systems. The technology has already been integrated into the WisdomTree Prime platform, a digital asset management tool.

DTCC, a premier clearing and settlement service, processed $2.5 quadrillion in securities settlements in 2022. Their depository division managed over $72 trillion in securities from 150 countries and territories.

DTCC entered the blockchain space in December, participating in a pilot project for tokenized securities settlement using a simulated digital dollar. The project was conducted in partnership with the Digital Dollar Project.

On October 19, 2023, DTCC announced its agreement to acquire Securrency Inc. This move solidifies DTCC’s position in the digital asset sector. Securrency will be rebranded as DTCC Digital Assets, with key personnel like Nadine Chakar, CEO of Securrency, taking on important roles.

By combining DTCC’s digital capabilities with Securrency’s technology, DTCC aims to lead the development of its digital asset platform, particularly in institutional DeFi. DTCC will also drive the global development of a robust digital infrastructure, offering specialized services and licensing Securrency’s technology.

DTCC is a leading post-trade market infrastructure with a global presence in 20 locations. Their transaction value in 2022 reached $2.5 quadrillion, with their depository subsidiary managing $72 trillion in securities.

Securrency is an institutional-grade digital asset infrastructure provider, offering solutions for trading, settlement, and servicing of digital assets. Their innovative product suite promotes institutional adoption of blockchain technology.

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