DTCC, the market infrastructure for the global financial services industry, announced it has signed a definitive agreement to acquire Securrency Inc., developer of institutional-grade, digital asset infrastructure.
The acquisition, which is expected to close within the next several weeks, will position DTCC to provide global leadership in bridging best-in-class industry practices with advanced digital technology to encourage acceptance and adoption of digital assets.
Securrency will become a fully-owned subsidiary of DTCC and will operate under the name DTCC Digital Assets.
By combining DTCC’s digital capabilities and Securrency’s technology, DTCC will fast-track development of its enterprise digital asset platform to unlock the power of institutional DeFi. DTCC will leverage the technology over time to embed digital assets within its existing products and services, develop new, regulatory-compliant blockchain-based offerings and explore use cases with the industry, including buyside asset managers, broker-dealers and custodians, to collaborate on new DTCC blockchain-based solutions.
In addition, DTCC will lead the industry’s development of a robust, global digital infrastructure by licensing the Securrency technology and offering professional services. Firms will be able to leverage the technology to transform and evolve their operating models and to create innovative, new digital asset services alone or in collaboration with other market participants – similar to how WisdomTree licenses Securrency’s software as part of the infrastructure for its WisdomTree Prime™ offering that provides tokenized assets and funds via digital wallets for retail investors and consumers.
Also published on Medium.
