Settlement giant DTTC has acquired blockchain infrastructure developer Secretry

Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a developer of digital asset infrastructure. The acquisition will enable DTCC to gradually embed digital assets into existing products and services, it said. Terms of the deal were not disclosed. It is expected to close “within the next several weeks.”

Sensory will be called DTCC Digital Assets. Security's top management and about 100 employees will remain with the company. The company was backed by State Street, US Bank, WisdomTree and Abu Dhabi Catalyst Partners and partnered with cybersecurity and digital asset watchdog GK8. DTCC President, CEO and Director Frank La Sala said in a statement.

“Collecting DTCCs […] With our network of financial market participants and the sophistication of security technology, we will be at the forefront of unlocking the value of digital assets.

DTTC also licenses secondary technology and provides professional services, the statement said. Promotes second-tier interoperability between distributed ledger solutions. WisdomTree already uses Securrency software in its WisdomTree Prime digital asset platform.

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DTCC is the largest clearing and clearing service in the United States and has branches worldwide. DTTC and its affiliates They offered $2.5 quadrillion in securities settlements by 2022. The depository institution provides custody and asset services for over $72 trillion worth of securities in more than 150 countries and territories.

At last month's Cibos event, Securier CEO @nchakar spoke on an expert panel titled “Automatic failure in capital markets: why we need to talk about data.”

Watch the full panel discussion here: #Fintech #CapitalMarkets #Tokenization pic.twitter.com/USk1cfCYNm

— Securrency (@Securrency) October 6, 2023

It is not new to blockchain technology as it started moving into the space in 2020. In December, it partnered with the Digital Dollar Project on a securities settlement pilot project that used a virtual digital dollar to conduct transactions with T2 for tokenized securities. T1 and T0 neighborhoods.

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