HashKey has joined the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Advisory Services Industry Working Group, marking the organization's first Asian digital asset service provider to participate.
With this move, HashKey joins more than 100 global asset managers and financial institutions. Other participants in the group include Goldman Sachs, JPMorgan Chase, Nasdaq, and the New York Stock Exchange (NYSE), according to a Wednesday announcement from HashKey.
The working group was established to connect traditional finance with decentralized finance (DeFi) infrastructure, helping to define how tokenized assets are issued, settled, and safeguarded on an institutional scale. DTCC, a core post-trade infrastructure provider for traditional financial markets, custodies $114 trillion in liquid assets, which includes exchange-traded funds and stocks. In coordination with the working group, DTCC plans to launch access to tokenized securities in October.
The initiative follows a December development in which the US Securities and Exchange Commission (SEC) issued a “no-action” letter to a DTCC subsidiary, allowing it to offer a new securities market tokenization service. SEC Chairman Paul Atkins stated in a December 12 social media post that the pilot approval is only the beginning, noting that the agency will consider an innovation exemption to help builders transition markets onchain without heavy regulatory burdens. Atkins had previously proposed this innovation exemption for tokenization during the Crypto Task Force Roundtable on DeFi on June 9.
