A major player in Wall Street’s financial ecosystem Depository Trust & Clearing Corporation (DTCC)blockchain technology firm, in a strategic move to strengthen its position in the rapidly developing decentralized finance (DeFi) sector. Securrency announced the purchase.
DTCC Acquires Blockchain Technology Firm Securrency
The deal will result in Securrency becoming a wholly owned subsidiary of DTCC. It will now operate under the name DTCC Digital Assets.
Led by former State Street crypto executive Nadine Chakar, Securrency specializes in providing a robust platform for clients to tokenize real-world assets.
The company stands out with what it claims is “the industry’s most comprehensive, patented compatibility technology.”
Reports from Bloomberg indicate that DTCC acquired Securrency for $50 million.
According to the DTCC press release, this acquisition marks an important step in fast-tracking the evolution of the institutional digital asset platform to unlock the power of institutional DeFi.
Expressing her excitement about the collaboration, Nadine Chakar said: “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 digitalization of capital markets is at the forefront of innovation.
“These capabilities will enable DTCC to partner with industry to create a flexible and scalable infrastructure critical to mass adoption of digital assets.”
*This is not investment advice.
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