The Depository Trust & Clearing Corporation (DTCC) has joined the ERC3643 Association, the body that oversees the ERC-3643 standard for permissioned real world assets (RWA) tokens. The standard was initially created by Tokeny, and when the DTCC unveiled its ComposerX solution for tokenization in January, it said that ERC-3643 was one of the main standards it supports. The association now has at least 20 members, including fund administrator Apex and Invesco.
Ethereum compatible tokens operate as smart contracts. Hence, the standard is a series of smart contracts that support the issuance, transfer and management of permissioned tokens.
“DTCC’s commitment to the open-source ERC3643 token standard aligns perfectly with our vision of creating a more efficient and secure financial market,” said Nadine Chakar, Global Head of DTCC Digital Assets, saying it is “another milestone in our ongoing strategy to engage best-in-class technologies to build the next generation of financial market infrastructure.”
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