State Street and DTCC join blockchain alliance

The Enterprise Ethereum Alliance was launched in February and has tripled in size since then.
By Hayley McDowell

The Depository Trust & Clearing Corporation (DTCC) and State Street have signed up to become members of a recently launched blockchain alliance.

The Enterprise Ethereum Alliance (EEA) was launched in February and aims to connect firms with blockchain experts to understand the use of the technology as software.

Since its launch, the EEA has tripled in size and recently added 86 new members, including DTCC and State Street. 

DTCC and State Street join JP Morgan, CME Group, BNY Mellon and Banco Santander, who were among the large institutions that backed the alliance when it was founded.

Julio Faura, chairman of EEA and head of blockchain research and development at Santander described the enthusiasm around the alliance as being remarkable.

“Our new members come from varying industries such as pharmaceutical, mobile, banking, automotive, management consulting, and hardware as well as the start-up community driving innovation,” he said.

Other additions from the financial services industry include Broadridge, Rabobank, ING, and the Taiwan FinTech Association.