Crypto NewsNewsGiant Company Acquired Blockchain Firm Securrency to Rise in the DeFi Industry!

Giant Company Acquired Blockchain Firm Securrency to Rise in the DeFi Industry!

The giant company acquired a blockchain technology company to strengthen its position in the decentralized finance (DeFi) sector.

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Depository Trust & Clearing Corporation (DTCC), a major player in Wall Street's financial ecosystem, announced the acquisition of blockchain technology firm Securrency, in a strategic move to strengthen its position in the rapidly developing decentralized finance (DeFi) sector.

DTCC Acquires Blockchain Technology Firm Securrency

The deal will result in Securrency becoming a wholly owned subsidiary of DTCC. It will now operate under the name DTCC Digital Assets.

Led by former State Street crypto executive Nadine Chakar, Securrency specializes in providing a robust platform for clients to tokenize real-world assets.

The company stands out for what it claims is “the industry's most comprehensive, patented compliance technology.”

Reports from Bloomberg indicate that DTCC acquired Securrency for $50 million.

According to the DTCC press release, this acquisition marks an important step in fast-tracking the evolution of the institutional digital asset platform to unlock the power of institutional DeFi.

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Expressing her excitement about the collaboration, Nadine Chakar said: “As we join forces with DTCC, we are excited to bring together DTCC's infrastructure capabilities with Securrency's technology to embrace a future where the digitalization of capital markets is at the forefront of innovation.

“These capabilities will enable DTCC to partner with industry to create a flexible and scalable infrastructure critical to mass adoption of digital assets.”

*This is not investment advice.

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