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Depository Trust & Clearing Corporation (DTCC) is an American financial services company providing clearing services for financial markets. Besides, the purchase of Securrency strengthens the huge company’s DeFi aim! It is recognized as an institution that greatly contributes to the financial ecosystem of Wall Street. DTCC has taken a strategic step to closely monitor and strengthen the growth in the decentralized finance (DeFi) sector and has announced that it has acquired blockchain technology firm Securrency.
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This deal has resulted in Securrency becoming a wholly-owned subsidiary of DTCC and will henceforth operate as DTCC Digital Assets.
(Securrency is led by former State Street crypto manager Nadine Chakar). It is a specialist in offering customers a solid platform for tokenization of their real-world assets. The company also claims to have one of the most comprehensive and patented compliance technologies in the industry.
According to reports, DTCC has purchased Securrency for 50 million dollars.
According to DTCC’s statement, this acquisition seems as a significant step to boost the power of corporate DeFi. Also, it seems as a step contribute to the rapid development of the corporate digital asset platform.
Securrency CEO Nadine Chakar expressed excitement about the collaboration, saying “While we merge our powers with DTCC, we are very excited to combine DTCC infrastructure capabilities with Securrency’s technology to support a future where capital market digitalization is the pioneer of innovation. These capabilities will offer DTCC the opportunity to collaborate with the industry to build a critically flexible and scalable infrastructure for mass adoption of digital assets.”
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