{"id":177600,"date":"2023-10-20T05:20:57","date_gmt":"2023-10-19T23:50:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177600"},"modified":"2023-10-20T05:20:57","modified_gmt":"2023-10-19T23:50:57","slug":"settlements-giant-dttc-acquires-blockchain-infrastructure-developer-securrency-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/settlements-giant-dttc-acquires-blockchain-infrastructure-developer-securrency-crypto-news\/","title":{"rendered":"Settlements giant DTTC acquires blockchain infrastructure developer Securrency – Crypto News"},"content":{"rendered":"
\n

The Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a digital asset infrastructure developer. The acquisition will allow DTCC to embed digital assets gradually in its existing products and services, it said. Terms of the deal were not disclosed. It is expected to close \u201cwithin the next several weeks.\u201d<\/p>\n

Securrency will be renamed DTCC Digital Assets. Securrency\u2019s top management and around 100 employees will remain with the company. The company was backed by State Street, U.S. Bank, WisdomTree and Abu Dhabi Catalyst Partners and partnered with cybersecurity and digital asset custodian GK8. DTCC president, CEO and director Frank La Salla said<\/a> in a statement:<\/p>\n

\u201cBy bringing together DTCC\u2019s [\u2026] network of financial market participants with the sophistication of the Securrency technology, we will be in a leading position to unlock the value of digital assets.\u201d<\/p><\/blockquote>\n

DTTC will also license Securrency technology and offer professional services, according to the statement. It will also promote Securrency\u2019s interoperability among distributed ledger solutions. WisdomTree already uses Securrency software in its WisdomTree Prime digital asset platform.<\/p>\n

Related: Bank of America partnership with Paxos will allow same-day trade settlements<\/a><\/em><\/strong><\/p>\n

DTCC is the largest clearing and settlement service in the United States and has subsidiaries worldwide. DTTC and its subsidiaries processed $2.5 quadrillion in securities settlements in 2022. Its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories worth $72 trillion. <\/p>\n

\n

At last month’s Sibos event, Securrency CEO\u00a0@nchakar<\/a>\u00a0spoke on an expert panel entitled “Automation failure within capital markets: why we need to talk about data”.<\/p>\n

Watch the full panel discussion here: https:\/\/t.co\/QW6V75pUeX<\/a>#Sibos<\/a> #Fintech<\/a> #CapitalMarkets<\/a> #Tokenization<\/a> pic.twitter.com\/USk1cfCYNm<\/a><\/p>\n

\u2014 Securrency (@Securrency) October 6, 2023<\/a><\/p><\/blockquote>\n

It is not new to blockchain technology, having begun to move into the space<\/a> in 2020. In December, it collaborated with the Digital Dollar Project<\/a>\u00a0on a securities settlement pilot project that used a simulated digital dollar to carry out transactions with tokenized securities with T2, T1 and T0 settlements.<\/p>\n

Magazine: Recursive inscriptions: Bitcoin \u2018supercomputer\u2019 and BTC DeFi coming soon<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a digital asset infrastructure developer. The acquisition will allow DTCC to embed digital assets gradually in its existing products and services, it said. Terms of the deal were not disclosed. It is expected to close \u201cwithin the next several weeks.\u201d Securrency […]<\/p>\n","protected":false},"author":2,"featured_media":177601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-177600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=177600"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177600\/revisions"}],"predecessor-version":[{"id":177603,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177600\/revisions\/177603"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177601"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}