In 2023, the DTCC processed transactions worth an aggregate of $3 quadrillion, according to its annual report. Also known as the T-REX Protocol, ERC-3643 is “an open-source suite of smart contracts that enables the issuance, management, and transfer of permissioned tokens […] even on permissionless blockchains,” according to the ERC3643 Association’s website. It relies on a custom-built decentralized identity protocol to ensure that only users meeting pre-specified conditions can become tokenholders. The DTCC has been an early mover among US financial overseers in embracing blockchain technology, piloting several initiatives related to onchain securities transactions.
The Depository Trust & Clearing Corporation (DTCC) — the US’s primary clearinghouse for securities transactions — has committed to promoting Ethereum’s ERC-3643 standard for permissioned securities tokens, according to a March 20 announcement. DTCC is joining the ERC3643 Association, a nonprofit dedicated to catalyzing the standard’s adoption with the goal of “promoting and advancing the ERC3643 token standard,” it said.
The endorsement highlights how US regulators are embracing tokenization after President Donald Trump vowed to make America the “world’s crypto capital.” It also suggests that the Ethereum blockchain network may play an important role in the US’s permissioned security token ecosystem. “DTCC will help lead the future of tokenization and support institutional adoption at scale,” Dennis O’Connell, president of the ERC3643 Association, said in a statement.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Alex O’Donnell
The story "DTCC to promote ERC3643 token standard" has 361 words across 15 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "DTCC to promote ERC3643 token standard" was covered 23 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 195 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
