DTCC Closes Acquisition of Blockchain-Based Securrency

Less than two months after the definitive agreement was signed​, DTCC, the premier post-trade market infrastructure for the global financial services industry, announced on Monday (December 11) that it has completed the acquisition of Securrency Inc. (Securrency), an institutional-grade digital asset infrastructure provider.

The deal will drive the development of the digital post-trade infrastructure, DTCC stated in the latest announcement.

DTCC has now renamed Securrency to DTCC Digital Assets, and the head of the business, Nadine Chakar (former CEO of Securrency), will report to Lynn Bishop, Lynn Bishop, Managing Director and Chief Information Officer at DTCC.

Frank La Salla, DTCC President, CEO and Director, said: "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. 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."

The post-trade field is the top priority of DTCC's business. In May, the company announced a new partnership with Nomura Research Institute (NRI)​, a leading global provider of consulting services and system solutions, to offer automated central matching capabilities for cash securities transactions in Japan.