Key facts
- Hashkey is the first Asian digital asset service provider to join the DTCC's Digital Assets Advisory Services Industry Working Group.
- The working group includes over 100 financial institutions, including JPMorgan Chase and Goldman Sachs.
- The group's objective is to define the institutional-scale issuance, settlement, and safeguarding of tokenized assets.
- DTCC plans to launch access to tokenized securities in October.
- The SEC previously issued a 'no action' letter to a DTCC subsidiary for a tokenization service.
Hashkey has joined the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Advisory Services Industry Working Group, marking its position as the first Asian digital asset service provider to participate. The group comprises over 100 global financial institutions and asset managers, including prominent names like JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange.
The working group's primary objective is to establish standards for the institutional-scale issuance, settlement, and safeguarding of tokenized assets, bridging traditional finance with decentralized finance (DeFi) infrastructure. DTCC, a key post-trade infrastructure provider, intends to launch access to tokenized securities in October, in collaboration with this group.
This development follows a 'no action' letter issued by the U.S. Securities and Exchange Commission (SEC) in December to a DTCC subsidiary, which permits the offering of a new securities market tokenization service. SEC Chairman Paul Atkins had previously advocated for an innovation exemption to facilitate the transition of markets onto the blockchain without regulatory hindrances.