Yesterday Clearstream, the DTCC and Euroclear jointly released a digital assets framework they developed in conjunction with Boston Consulting Group (BCG). BCG is the company that made the $16 trillion estimate of the digital assets opportunity by 2030. The three firms are the largest central securities depositories (CSDs) and central counterparties (CCPs) in the world. Last year they published a paper outlining how they can help industry to address the fragmentation that’s appearing in the digital securities sector.
They are currently responsible for recording most securities transactions. Hence, they have a critical role in the adoption of distributed ledgers.
“While many firms recognise that blockchain holds enormous promise to deliver cost savings, capital efficiencies and reduced risk, the industry needs to pivot and demonstrate tangible results and value generation,” said Nadine Chakar, Managing Director, Global Head of DTCC Digital Assets. “We have a unique opportunity to transform the financial system, but it will require collaboration across a wide cross section of firms.”
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