DTCC acquires blockchain startup Securrency in a $50 million deal
The Depository Trust & Clearing Corp. (DTCC) has acquired blockchain startup Securrency Inc. for an estimated $50 million, marking its first buyout in a decade and signaling a significant push into blockchain-based financial services. In a strategic initiative to enhance its blockchain technology offerings, the Depository Trust & Clearing Corp. (DTCC) has confirmed its acquisition of Securrency Inc., a Maryland-based blockchain startup . Reports from Bloomberg suggested that the deal is valued at approximately $50 million . This marks DTCC’s first acquisition since 2013. Frank La Salla, CEO of DTCC, highlighted that the acquisition could prove pivotal in advancing the issuance of financial instruments, such as exchange-traded funds (ETFs), on blockchain platforms. You might also like: Grayscale makes new attempt for spot bitcoin ETF approval This strategic move is one of DTCC’s most substantial ventures into the blockchain space. Experts in the...