DTCC Enters Definitive Agreement to Acquire Blockchain-Based Fintech Securrency

DTCC, the premier post-trade market infrastructure for the global financial services industry, announced on Thursday (October 19, 2023) that it has signed a definitive agreement to acquire Securrency Inc. (Securrency), an institutional-grade digital asset infrastructure provider.

The deal is expected to close within the next several weeks.

Through this acquisition, DTCC​ will combine its digital capabilities with Securrency’s technology, to fast-track development of its enterprise digital asset platform to unlock the power of institutional DeFi. DTCC aims at providing global leadership in bridging best-in-class industry practices with advanced digital technology to encourage acceptance and adoption of digital assets.

According to the official press release, Securrency will become a fully-owned subsidiary of DTCC and will rebrand to DTCC Digital Assets.

Nadine Chakar, CEO of Securrency, will join DTCC as Managing Director, Global Head of DTCC Digital Assets, reporting to Lynn Bishop, DTCC's Managing Director and Chief Information Officer. Also, he will be a member of the DTCC Management Committee. In addition, Dan Doney, CTO and founder of Securrency, John Hensel, COO and co-founder, and other members of the Securrency leadership team, as well as around 100 Securrency staff of full-time employees or contractors, will join DTCC team.

"We're excited to welcome our new colleagues to the DTCC team and to begin collaborating as a group to strengthen market stability and resilience and drive greater efficiencies, productivity, risk mitigation and liquidity in the global financial markets," said Frank La Salla, President, CEO and Director, DTCC.

Nadine Chakar stated, "As we join forces with DTCC, we are excited to bring together DTCC's infrastructure capabilities with Securrency's technology to embrace a future where the digitization of capital markets is at the forefront of innovation. These capabilities will allow DTCC to partner with the industry to build a resilient and scalable infrastructure critical to the mass adoption of digital assets. Together, we will unlock opportunities to reimagine compliance, liquidity, efficiency and interoperability in trading real-world assets on the blockchain."