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crypto.news 2025-03-21 05:37:32

DTCC joins ERC-3643 Association to advance Ethereum-based tokenized securities

To promote Ethereum’s ERC-3643 standard for permissioned securities tokens, the Depository Trust and Clearing Corporation, the main U.S. clearinghouse for securities transactions, has joined the ERC-3643 Association. The announcement , made on Mar. 20 in a press release, indicates DTCC’s growing engagement with blockchain-based financial solutions. ERC-3643, also known as the T-REX protocol, is an open-source smart contract standard designed for issuing and managing permissioned tokens. It ensures that only authorized users, even on public blockchains, can hold these assets by using a decentralized identity framework. More than 40 tokens have been developed and managed using the standard, which has been used to tokenize $28 billion worth of assets across more than 180 jurisdictions. ERC-3643 will be integrated into DTCC’s ComposerXTM platform, which includes ComposerX Factory, a tokenization engine for managing financial data. This integration aims to improve risk management, security, and compliance in digital asset markets while reducing operational costs and complexity. You might also like: Tokenized assets hit $50b, projected to reach $2T by 2030 Additionally, by linking real-world assets to a larger spectrum of market participants, ERC-3643’s automated procedures are expected to improve liquidity, speed up settlements, and increase transparency. “DTCC’s commitment to the open-source ERC3643 token standard aligns perfectly with our vision of creating a more efficient and secure financial market.” — Nadine Chakar, Global Head of DTCC Digital Assets In 2023, DTCC processed $3 quadrillion in securities transactions and held $85 trillion in assets in more than 150 countries. It has been testing blockchain applications, such as tokenized private asset tokenization on an Avalanche ( AVAX ) subnet and tokenized U.S. Treasury Bill settlements on the Canton Network. The support from DTCC indicates that American regulators are becoming more receptive to blockchain-based finance. In a related development, the Commodity Futures Trading Commission has also been exploring blockchain applications. To discuss the launch of its pilot program for digital asset markets, it announced on Feb. 7 that it would host a CEO Forum with prominent industry leaders such as Circle ( USDC ), Coinbase, Crypto.com, MoonPay, and Ripple ( XRP ). Stablecoins and other tokenized non-cash collateral are to be tested as part of the initiative. Read more: SEC issues guidance on proof-of-work mining and securities regulations

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