Key Takeaways
- • DTCC signed a definitive agreement in October 2023 to acquire Securrency Inc., a developer of institutional-grade digital asset infrastructure, with the transaction closing within several weeks of the announcement.
- • Securrency will operate as a fully-owned DTCC subsidiary under the name DTCC Digital Assets, with Nadine Chakar (Securrency CEO) joining DTCC as Managing Director and Global Head of DTCC Digital Assets, reporting to Chief Information Officer Lynn Bishop.
- • Approximately 100 Securrency full-time employees and contractors, including co-founders Dan Doney (CTO) and John Hensel (COO), will transition to DTCC as part of the acquisition.
- • The acquisition positions DTCC to provide global leadership in digital asset infrastructure by combining institutional market practices with advanced digital technology to accelerate adoption of digital assets across global financial markets.
- • No acquisition price was publicly disclosed; DTCC described the transaction as completed for an undisclosed sum.
Summary
The Depository Trust and Clearing Corporation (DTCC), the premier market infrastructure provider for global financial services, has completed its acquisition of Securrency Inc., a leading developer of institutional-grade digital asset infrastructure. The transaction was announced via definitive agreement on October 19, 2023, and closed within the expected timeframe of several weeks.
Securrency will operate as a fully-owned DTCC subsidiary under the newly established DTCC Digital Assets business unit. The acquisition represents DTCC's strategic expansion into digital asset infrastructure, designed to bridge institutional market practices with advanced blockchain-based technology. According to DTCC's announcement, the move positions the organization to provide global leadership in encouraging acceptance and adoption of digital assets across financial markets.
Leadership integration reflects the acquisition's significance within DTCC's organizational structure. Nadine Chakar, who served as CEO of Securrency, has joined DTCC as Managing Director and Global Head of DTCC Digital Assets, with reporting responsibility to Lynn Bishop, DTCC's Chief Information Officer. Chakar also joined the DTCC Management Committee. The broader Securrency leadership team, including co-founders Dan Doney (Chief Technology Officer) and John Hensel (Chief Operating Officer), transitioned to DTCC employment, alongside approximately 100 full-time employees and contractors.
The acquisition underscores DTCC's commitment to developing post-trade infrastructure capabilities for digital assets while maintaining institutional-grade standards and compliance frameworks. However, the financial terms of the transaction were not disclosed publicly. This acquisition positions DTCC to advance digital asset adoption across global financial markets by leveraging both its established market infrastructure expertise and Securrency's specialized digital asset technology platform.
Securrency will operate as a fully-owned DTCC subsidiary under the newly established DTCC Digital Assets business unit. The acquisition represents DTCC's strategic expansion into digital asset infrastructure, designed to bridge institutional market practices with advanced blockchain-based technology. According to DTCC's announcement, the move positions the organization to provide global leadership in encouraging acceptance and adoption of digital assets across financial markets.
Leadership integration reflects the acquisition's significance within DTCC's organizational structure. Nadine Chakar, who served as CEO of Securrency, has joined DTCC as Managing Director and Global Head of DTCC Digital Assets, with reporting responsibility to Lynn Bishop, DTCC's Chief Information Officer. Chakar also joined the DTCC Management Committee. The broader Securrency leadership team, including co-founders Dan Doney (Chief Technology Officer) and John Hensel (Chief Operating Officer), transitioned to DTCC employment, alongside approximately 100 full-time employees and contractors.
The acquisition underscores DTCC's commitment to developing post-trade infrastructure capabilities for digital assets while maintaining institutional-grade standards and compliance frameworks. However, the financial terms of the transaction were not disclosed publicly. This acquisition positions DTCC to advance digital asset adoption across global financial markets by leveraging both its established market infrastructure expertise and Securrency's specialized digital asset technology platform.
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