HashKey joins DTCC Tokenization Innovation Working Group, becoming the first Asian crypto service provider to join

Odaily News: Digital asset service provider HashKey has joined the Digital Asset Advisory Services Industry Working Group of the Depository Trust & Clearing Corporation (DTCC), becoming the first Asian digital asset service provider to join the working group. The working group comprises over 100 global financial institutions and asset management companies, including JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange (NYSE).

DTCC is a core post-trade infrastructure provider in traditional financial markets. The working group aims to advance the issuance, settlement, and custody of tokenized assets at institutional scale. DTCC plans to launch its tokenized securities access service in October, with custodial liquid assets currently reaching $114 trillion.

In December last year, the U.S. Securities and Exchange Commission (SEC) issued a "no-action" letter to a DTCC subsidiary, permitting it to offer new securities tokenization services in the market. SEC Chairman Paul Atkins stated that the approval of the DTCC pilot is just the starting point, and the SEC will consider innovation exemption mechanisms. (Cointelegraph)