HashKey Joins DTCC Digital Asset Working Group in Historic Milestone

Hong Kong-based crypto firm HashKey has made history by becoming the first Asian company to join the Depository Trust & Clearing Corp.'s digital asset advisory working group. The DTCC Digital Asset Advisory Working Group brings together over 100 global financial institutions and asset managers, including JPMorgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange (NYSE). HashKey will collaborate with these industry leaders to develop standards for the issuance, settlement, and custody of tokenized assets.

The working group aims to bridge traditional finance and decentralized finance infrastructure. As part of this effort, DTCC plans to launch a tokenized securities service as early as next month in connection with the working group. This move follows the U.S. Securities and Exchange Commission's (SEC) approval of DTCC's securities tokenization service through a no-action letter issued last year.

According to SEC Chair Paul Atkins, this approval is only the starting point for innovation in the space. He expressed his willingness to consider an exemption that would allow firms to innovate without excessive regulatory burdens as markets continue to move on-chain.