DTCC issued the following media alert:
DTCC Closes Acquisition of Blockchain-Based Financial Technology Firm Securrency Inc. to Drive Development of the Digital Post-Trade Infrastructure
Business rebranded DTCC Digital Assets
Today, DTCC announced it has closed on the transaction to acquire Securrency Inc. (“Securrency”), a leading developer of institutional-grade, digital asset infrastructure. DTCC announced the signing of the definitive agreement to acquire Securrency in October.
With the acquisition complete, DTCC retires the Securrency brand, and has renamed the business DTCC Digital Assets. It will operate as a business within DTCC, reporting into Lynn Bishop, Managing Director and Chief Information Officer.
“We are excited to bring together our people, expertise and respective technologies to create a powerful combination that will help the industry unlock the value of digital assets and drive market-wide transformation,” said Frank La Salla, DTCC President, CEO and Director. “We look forward to providing global leadership to establish a robust digital infrastructure that protects the safety and soundness of financial markets and delivers on the enormous promise and potential of institutional DeFi in the coming years.”
For more information, please read the press release on the acquisition issued on October 19, 2023.
With 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes and bringing increased security, enhanced resilience and soundness to financial markets. In 2022, DTCC’s subsidiaries processed securities transactions valued at U.S. $2.5 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $72 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 17.5 billion messages annually. To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, X, YouTube, Facebook, and Instagram.