About a-team Marketing Services

A-Team Insight Blogs

DTCC Agrees to Acquire Blockchain-Based Financial Technology Firm Securrency Inc.

Subscribe to our newsletter

DTCC, the financial markets infrastructure provider, has announced its agreement to acquire Securrency Inc., a developer of institutional-grade digital asset infrastructure. By merging industry best practices with cutting-edge digital technology, the move aims to further the institutional acceptance and integration of digital assets.

“Securrency is an important strategic acquisition that will give us the technology to drive market-wide transformation by enabling end-to-end digital lifecycle processing for tokenised assets, digital currencies and other financial instruments,” commented Frank La Salla, President, CEO and Director of DTCC.

He continued: “By bringing together DTCC’s commitment to providing market stability and our unparalleled network of financial market participants with the sophistication of the Securrency technology, we will be in a leading position to unlock the value of digital assets and help guide the industry through its digital transformation journey. We believe this next generation of financial market infrastructure will further reduce settlement times, facilitate market transparency and risk management, enhance regulatory oversight and controls, and unlock efficiency and innovation to create an improved investor experience.”

The combination of DTCC’s digital expertise and Securrency’s technology will expedite the creation of DTCC’s enterprise digital asset platform, aiming to unlock the potential of institutional DeFi (decentralised finance). Over time, DTCC plans to incorporate digital assets into its product lineup, devise new blockchain-compliant offerings, and explore potential use cases in partnership with industry stakeholders, including asset managers, broker-dealers, and custodians.

DTCC’s plans also include licensing Securrency’s technology and offering specialised services in order to the industry’s development of a robust, global digital infrastructure. An example of this approach is WisdomTree’s use of Securrency’s software for its WisdomTree Prime offering, which delivers tokenised assets and funds to retail investors via digital wallets.

DTCC also intends to lead collaborative efforts across the industry to prevent fragmentation arising from multiple digital technologies and standards, by leveraging Securrency’s technology as a DLT-agnostic layer promoting interoperability, liquidity, transparency, and security.

Upon completion of the acquisition in the coming weeks, Securrency will rebrand as DTCC Digital Assets, operating as a wholly-owned subsidiary of DTCC. Securrency’s CEO, Nadine Chakar, will join DTCC’s Management Committee and become Managing Director, Global Head of DTCC Digital Assets, reporting directly to Lynn Bishop, DTCC’s Managing Director and Chief Information Officer, and will. Securrency’s co-founders Dan Doney (CTO) and John Hensel (COO) will transition to DTCC, along with approximately 100 Securrency staff members and contractors.

Chakar commented: “As we join forces with DTCC, we are excited to bring together DTCC’s infrastructure capabilities with Securrency’s technology to embrace a future where the digitization of capital markets is at the forefront of innovation. These capabilities will allow DTCC to partner with the industry to build a resilient and scalable infrastructure critical to the mass adoption of digital assets. Together, we will unlock opportunities to reimagine compliance, liquidity, efficiency and interoperability in trading real-world assets on the blockchain.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Enhancing Buy-Side Trading Efficiency: Navigating Interoperability and AI in Real Workflows

Enhancing Buy-Side Trading Efficiency: Navigating Interoperability and AI in Real Workflows Emerging capabilities in AI and interoperability are transforming trading workflows, with the promise of heightened levels of collaboration and personalisation resulting in greater efficiency and performance. The potential of these new technologies is encouraging financial firms to modernise their trader desktops and streamline operational...

BLOG

Substantive Research White Paper Reveals Disparities and Sharp Increases in Wholesale Market Data Pricing

Substantive Research, a provider of research discovery and research spend analytics for the buy side, has published a White Paper detailing its latest findings on wholesale market data pricing. The report comes in anticipation of the UK’s Financial Conduct Authority’s (FCA) Wholesale Market Data Study, expected by 1 March 2024. The FCA initiated its study...

EVENT

Data Management Summit New York City

Now in its 14th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...