Key facts
- Hashkey Group is the first Asian digital asset service provider to join the DTCC's Digital Assets Advisory Services Industry Working Group.
- The working group comprises over 100 financial institutions, including major players like JPMorgan, Goldman Sachs, Nasdaq, and the NYSE.
- The group's mandate is to develop standards for the institutional-scale issuance, settlement, and safeguarding of tokenized assets.
- DTCC plans to launch standardized tokenization services in October.
- DTCC has already conducted successful production-environment tokenized transactions.
Hashkey Group 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 blockchain-based securities. DTCC, a key post-trade infrastructure provider, plans to launch standardized tokenization services in October.
DTCC completed its first production-environment tokenized transactions in July, utilizing securities held at DTC and operating across a private blockchain. Assets involved in these trials included shares of Microsoft, Circle, the Invesco QQQ Trust, SPDR S&P 500 ETF, and a BlackRock Treasury ETF. JPMorgan also participated in a transaction involving shares of the Invesco QQQ Trust.
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.