HashKey Joins DTCC Tokenization Innovation Working Group, Becoming the First Asian Crypto Service Provider to Do So

Odaily Planet Daily News: Digital asset service provider HashKey has joined the industry working group of the Digital Asset Advisory Services at the Depository Trust & Clearing Corporation (DTCC), becoming the first Asian digital asset service provider to join the 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 the traditional financial market, and the working group aims to promote the issuance, settlement, and custody of tokenized assets at institutional scale. DTCC plans to launch a tokenized securities access service in October and currently holds $114 trillion in custodial liquid assets.

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