The DTCC, the main US clearinghouse for securities, has joined the ERC-3643 association to promote permissioned securities tokens.
Introduction to ERC-3643 and DTCC
ERC-3643, also known as the T-REX protocol, is a smart contract standard designed for issuing and managing permissioned tokens. It ensures that only authorized users can hold these assets on public blockchains using a decentralized identity framework. DTCC's participation highlights its growing involvement in blockchain solutions for financial markets.
Integration of ERC-3643 in DTCC's Platform
ERC-3643 will be integrated into DTCC's ComposerXTM platform, which includes a tokenization engine for managing financial data. This integration aims to improve risk management, security, and compliance in digital asset markets while reducing operational costs and complexity.
Support for Blockchain Solutions by DTCC
In 2023, DTCC processed $3 quadrillion in securities transactions and held $85 trillion in assets across more than 150 countries. It has also been testing blockchain applications such as private asset tokenization on the Avalanche network and tokenized US Treasury Bill settlements on the Canton Network.
Support for the ERC-3643 standard by DTCC underscores the growing involvement of blockchain in US financial markets and the interest in tokenization innovations.
