TL;DR
- HashKey became the first Asian digital asset firm to join the DTCC’s tokenization advisory group.
- HashKey joins a group that brings together more than 100 international financial institutions, including Goldman Sachs, JPMorgan, Nasdaq, and the New York Stock Exchange.
- The DTCC plans to offer access to tokenized securities in October, backed by a “no-action” letter issued by the SEC in December.
HashKey joined the digital asset advisory services working group of the Depository Trust & Clearing Corporation (DTCC), becoming the first Asian provider of digital asset services to do so. The firm joins more than 100 financial institutions and international asset managers with the goal of defining how tokenized assets are issued, settled, and custodied at institutional scale.
Group members include JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange. The inclusion was announced by the company in a press release published recently.
The DTCC is one of the most important providers of post-trade infrastructure in traditional financial markets. Custodian of $114 trillion in liquid assets, including equities and exchange-traded funds, it formed this working group with the purpose of connecting traditional finance with the infrastructure of decentralized finance.
HashKey and the Tokenization Advancing on Wall Street
The organization plans to offer access to tokenized securities in October, in conjunction with the working group. This product follows the “no-action” letter issued in December by the U.S. Securities and Exchange Commission (SEC) to a DTCC subsidiary, authorizing it to offer a new securities tokenization service.
SEC Chair Paul Atkins said that approval is a starting point. In a post published on X last year, he noted that the agency will evaluate an innovation exemption so that developers can begin “moving our markets onchain” without being hindered by “cumbersome regulatory requirements“. Atkins had first proposed this exemption on June 9, during his remarks at the Crypto Task Force Roundtable on DeFi.
HashKey’s incorporation into the DTCC group highlights the growing institutional weight of Asian firms in building tokenized financial infrastructure at a global scale.
