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DTCC buys Securrency to lead Wall Street tokenization push

Source: americanbanker.com

TL;DR

DTCC is buying Securrency to boost its role in tokenizing real-world assets like bonds and funds.
The deal taps into Wall Street's growing interest in blockchain for faster, cheaper trading.
Securrency's tech will help DTCC handle tokenized assets worth trillions in the coming years.
This move positions DTCC as a leader in bridging traditional finance with digital tokens.

The story at a glance

The Depository Trust & Clearing Corp. (DTCC) is acquiring blockchain firm Securrency amid surging Wall Street demand for asset tokenization. It's being reported now as tokenized assets hit mainstream finance, promising efficiency gains.

Key moments & milestones

2022: Securrency launches its Capital Markets Suite for tokenizing assets on blockchain.
2023: DTCC pilots tokenized money market funds with Securrency and Navigating Ledger Exchange.
Early 2024: Wall Street banks like JPMorgan and Goldman Sachs ramp up tokenization pilots.
October 2024: DTCC announces intent to acquire Securrency, terms undisclosed.
Expected close: Q1 2025, pending regulatory approval.

Signature highlights

DTCC, which processes $2.5 quadrillion in securities annually, sees tokenization as key to modernizing post-trade infrastructure.
Securrency's DLT-based platform enables tokenized versions of funds, bonds, and loans, already used by firms like HSBC and BNY Mellon.
Tokenized assets under management could reach $16 trillion by 2030, per Boston Consulting Group.

Why it matters

This acquisition cements DTCC's pivot to blockchain, streamlining settlement and reducing costs in a market poised for explosive growth. It signals regulators' growing comfort with tokenization, potentially unlocking trillions in illiquid assets. Watch for DTCC's first live tokenized fund launches in 2025, which could set standards for the industry.