Agreement shows industry appetite for building end-to-end tokenisation capabilities and Digital Asset’s growing role in the capital markets as an underlying software provider.
Survey shows that 84% and 72% of respondents plan to develop blockchain and asset tokenisation solutions respectively.
The hire is the latest development from DTCC as it formalises a service offering for digital assets and private market securities.
New solution allows market infrastructure institutions to support tokenised asset classes and drive growth.
Custodian invests in widely backed collateral mobility platform and will also connect its agency securities lending business to HQLAx.
The new unit, State Street Digital, will be led by well-known securities services veteran Nadine Chakar, and seeks to address the industry-wide shift to a digital economy.
The funding round comes three months after Citi was appointed by BondEvalue as the custodian for the underlying bonds traded on its platform as tokenised assets.
Jens Hachmeister, head of issuer services and new digital markets at Clearstream, outlines the group's plans to be a core market infrastructure for digital securities.
Deutsche Bank and STACS were able to remodel and optimise the workflows involved to create a ‘bond in a box’ DLT platform.
The mandate advances Citi’s objective to evolve its securities services operating model and capabilities to cater for digitised products.