Hashkey Joins DTCC's Tokenization Efforts as First Asian Partner

Hashkey has become the first Asian digital asset service provider to join DTCC's (Depository Trust & Clearing Corporation) Digital Assets Advisory Services Industry Working Group. This move brings Hashkey together with over 100 other global financial institutions and asset managers to shape how tokenized assets are issued, settled, and safeguarded at an institutional scale.

The working group was formed to connect traditional finance with decentralized finance (DeFi) infrastructure. DTCC plans to launch access to tokenized securities in October, in conjunction with the working group. This move is significant as DTCC custodies $114 trillion in liquid assets, including stocks and exchange-traded funds.

The US Securities and Exchange Commission (SEC) has issued a 'no action' letter to a DTCC subsidiary, enabling it to offer a new securities market tokenization service. SEC Chairman Paul Atkins stated that this green light is just the beginning, as the SEC will consider an innovation exemption to enable builders to transition markets on-chain without being burdened by cumbersome regulatory requirements.