In a significant move towards integrating blockchain technology into mainstream finance, the Depository Trust and Clearing Corporation (DTCC), the primary U.S. clearinghouse for securities transactions, has joined the ERC-3643 Association. This partnership marks a major endorsement for Ethereum’s ERC-3643 standard, designed for permissioned securities tokens.
The announcement, released on March 20th, signals DTCC’s growing commitment to exploring and implementing blockchain-based financial solutions. ERC-3643, also known as the T-REX protocol, is an open-source smart contract standard that facilitates the issuance and management of permissioned tokens.
A key feature of ERC-3643 is its ability to ensure that only authorized users can hold these assets, even on public blockchains. This is achieved through a decentralized identity framework, enhancing security and compliance. The standard has already seen significant adoption, with over 40 tokens developed and managed, representing $28 billion worth of tokenized assets across more than 180 jurisdictions.
DTCC plans to integrate ERC-3643 into its ComposerXTM platform, specifically within ComposerX Factory, its tokenization engine for managing financial data. This integration aims to significantly improve risk management, security, and compliance in digital asset markets. By leveraging the ERC-3643 standard, DTCC seeks to reduce operational costs and complexity, streamlining the management of permissioned securities tokens.
This collaboration is a major step forward in bridging the gap between traditional finance and the burgeoning world of blockchain technology. DTCC’s adoption of ERC-3643 highlights the growing recognition of permissioned blockchains and their potential to revolutionize securities transactions.
