Depository Trust & Clearing Corp. Acquires Securrency
Depository Trust & Clearing Corp. (DTCC) announced today that it has agreed to buy digital asset infrastructure firm Securrency for an undisclosed amount. The acquisition will position the clearinghouse to provide global leadership in bridging best-in-class industry practices with advanced digital technology to encourage adoption of digital assets. DTCC works to provide clearing and settlement services to the financial markets, processing transactions and trades. DTCC handles an astounding $2.3 quadrillion—that’s $1 billion times $2.3 million—worth of stock sales annually, making it the largest financial clearinghouse in the world. Following the deal, Securrency will become a fully-owned subsidiary of DTCC and will operate under the name DTCC Digital Assets.
DTCC president, CEO and director Frank La Salla, said that the deal would give the firm “the technology to drive market-wide transformation by enabling end-to-end digital lifecycle processing for tokenized assets, digital currencies and other financial instruments.”
This is great news for the blockchain space, as the acquisition will make more efficient global leadership in bridging best-in-class industry practices with advanced digital technology. #DTCC #Securrency #Blockchain #DigitalAssets
You can read more about this topic here: Decrypt: Clearinghouse DTCC Snaps Up Blockchain Startup Securrency