The Depository Trust & Clearing Corporation (DTCC) has joined the ERC3643 Association, a group focused on the development and adoption of the ERC3643 token standard. Originally developed by Tokeny, ERC3643 is an open-source framework for issuing and managing permissioned tokens on blockchain networks.
As part of its membership, DTCC is integrating ERC3643 support into its ComposerX suite, which includes ComposerX Factory, a tokenisation platform designed for data management and automation. This will enable DTCC to support the issuance of ERC3643 tokens and incorporate the standard into its broader digital asset initiatives.
Potential impact
DTCC explains in a statement that it sees tokenisation as a way to improve risk management, compliance, and efficiency in securities processing. The use of ERC3643 could reduce operational complexities and costs while increasing transparency and automation in post-trade workflows. Additionally, the standard could contribute to greater market liquidity by enabling the connection of real-world assets with a broader range of market participants.
