DTTC, a major settlements company, completes acquisition of blockchain infrastructure developer Securrency

DTCC to Acquire Securrency in a Bid to Incorporate Digital Assets

The Depository Trust & Clearing Corporation (DTTC) has announced its plans to acquire Securrency, a digital asset infrastructure developer. This acquisition will enable DTCC to gradually integrate digital assets into its existing range of products and services. The deal is expected to be finalized within the next few weeks, with no details regarding the terms disclosed.

Securrency’s Transformation into DTCC Digital Assets

Following the acquisition, Securrency will be rebranded as DTCC Digital Assets. The company’s management team and approximately 100 employees will continue to work for the firm. Notably, Securrency had received backing from State Street, U.S. Bank, WisdomTree, and Abu Dhabi Catalyst Partners. It had also partnered with cybersecurity and digital asset custodian GK8.

Unlocking the Value of Digital Assets

In a statement, DTCC’s president, CEO, and director Frank La Salla expressed his optimism about the acquisition:

“By bringing together DTCC’s 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.”

Additionally, DTTC plans to license Securrency’s technology and offer professional services. The company aims to promote interoperability among distributed ledger solutions through Securrency’s capabilities. WisdomTree is already utilizing Securrency software for its WisdomTree Prime digital asset platform.

Hot Take: DTCC Strengthens Position in Digital Asset Market

The acquisition of Securrency by DTTC marks a significant move for both companies in the digital asset landscape. With this strategic move, DTCC aims to leverage Securrency’s expertise and technology to tap into the potential of digital assets. By incorporating digital assets into its existing offerings, DTCC positions itself at the forefront of this emerging market. This acquisition is expected to have a transformative impact on the financial industry and further drive the adoption of digital assets.