US clearing house Depository Trust & Clearing Corp. agreed to acquire Securrency Inc. to leverage blockchain technology.
According to information provided by Bloomberg, DTCC is a subsidiary of Maryland-based Securrency. to pay 50 million dollars he accepted.
According to the statements made by DTCC CEO Frank La Salla, DTCC uses the technology developed by Securrency. Securities such as exchange-traded funds on blockchain networks can produce.
The deal, which is expected to be completed in the coming weeks, is DTCC’s first since 2013. purchase agreement will be.
DTCC, which has many facilities around the world, serves thousands of institutions globally. automation and standardization of financial transactions provides. DTCC in total in 2021 800 million securities transactions worth $2.37 quadrillion passed.
DTCC joined the Hyperledger Project in December 2015 to understand the potential of blockchain technology.
Infrastructure provider Securrency’s team of approximately 100 people will join DTCC following the agreement. Following the agreement, the company will be called DTCC Digital Assets and Securrency CEO NAdine Chakar will continue to lead this unit.