DTCC Acquires Blockchain Developer Securrency, Expands into Digital Assets
Depository Trust & Clearing Corporation (DTCC) Signs Agreement to Acquire Securrency
The Depository Trust & Clearing Corporation (DTCC) has taken a major step forward in the world of digital assets by signing an agreement to acquire Securrency, a prominent infrastructure developer in the blockchain industry. This strategic acquisition will enable DTCC to gradually incorporate digital assets into its existing products and services. The terms of the deal have not been disclosed, but the transaction is expected to be finalized within the next few weeks.
DTCC Expands into Digital Assets
With the acquisition of Securrency, DTCC aims to expand its operations into the digital assets space. By integrating Securrency’s expertise and technology, DTCC will be able to offer enhanced solutions and services to its clients. This move highlights DTCC’s commitment to staying at the forefront of the rapidly evolving financial landscape.
Securrency Becomes DTCC Digital Assets
As part of the acquisition, Securrency will be rebranded as DTCC Digital Assets. The management team of Securrency, along with its approximately 100 employees, will continue to work with the company under its new name. This ensures the continuity of the expertise and knowledge that Securrency brings to the table.
Partnerships and Backing
Securrency had gained support from prominent players in the financial industry, including State Street, U.S. Bank, WisdomTree, and Abu Dhabi Catalyst Partners. Additionally, the company had partnered with cybersecurity and digital asset custodian GK8. These collaborations have further strengthened Securrency’s position as a leading infrastructure developer in the blockchain space.
DTCC’s Vision for the Future
Frank La Salla, the President, CEO, and Director of DTCC, expressed his excitement about the acquisition and the opportunities it presents. With the integration of digital assets, DTCC aims to provide innovative solutions that meet the evolving needs of its clients. This move underscores DTCC’s commitment to driving technological advancements in the financial industry.
Conclusion
The acquisition of Securrency by DTCC marks a significant milestone in the adoption of digital assets in traditional financial institutions. By harnessing the expertise of Securrency and incorporating digital assets into its existing products and services, DTCC is well-positioned to navigate the rapidly changing landscape of the financial industry.
