The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, have announced it is joining the ERC3643 Association. As a member, DTCC will contribute to the Association’s goals by promoting and advancing the ERC3643 token standard.
The ERC3643 token standard, initially created by Tokeny, a leading provider of compliant tokenization solutions, is an open-source suite of smart contracts that enables the issuance, management, and transfer of permissioned tokens. With this announcement, DTCC is adding ERC3643 support to its ComposerX suite of platforms, including ComposerX Factory, a tokenization engine that enables sophisticated data management. DTCC will also support issuance of ERC3643 tokens.
Combining DTCC’s technology with the ERC3643 token standard will introduce benefits to the digital asset markets including:
Enhanced Risk Management, Security, and Compliance by automating the processing of tokenized securities globally, reducing operational complexities and costs.Robust Data Management that will ultimately lead to greater transparency, improved risk management, faster settlement times, and increased access to global investment opportunities.Increased Market Liquidity by connecting real-world assets to a wide range of distributors and market participants that have adopted the ERC3643 token standard.Advanced on-chain capabilities that facilitate seamless issuance, transfer, and management of tokenized securities.
“DTCC’s commitment to the open-source ERC3643 token standard aligns perfectly with our vision of creating a more efficient and secure financial market,” said Nadine Chakar (pictured), Global Head of DTCC Digital Assets. “Today’s announcement marks another milestone in our ongoing strategy to engage best-in-class technologies to build the next generation of financial market infrastructure.”
“We are excited for DTCC to join the ERC3643 Association in order to actively contribute to advancing the standardization of on-chain finance,” said Luc Falempin, CEO of Tokeny. “DTCC joining the ERC3643 Association will help shape a truly open and interconnected financial system, where every service connects, every asset moves seamlessly, and every silo disappears.”
“Today’s announcement marks a turning point for tokenization,” said Dennis O’Connell, President of the ERC3643 Association and Strategic Advisor to DTCC. “As a member of the ERC3643 Association, DTCC will help lead the future of tokenization and support institutional adoption at scale.”
