HashKey Group joins DTCC digital assets working group

HashKey Group has become the first Asian digital asset service provider to join the Depository Trust & Clearing Corporation (DTCC) Digital Assets Advisory Services Industry Working Group. The group, which includes over 100 members such as JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange, focuses on developing standards for the issuance, settlement, and custody of tokenized assets.

The working group aims to integrate blockchain-based securities with existing traditional financial market systems. This follows DTCC's successful trials in July, where it completed tokenized transactions in a production environment involving equity transfers, collateral pledges, and securities lending using assets like U.S. Treasuries and various ETFs.

HashKey brings experience from the Hong Kong Monetary Authority’s Project Ensemble and various tokenized bond expert groups to the discussions. DTCC plans to move toward a standardized tokenization service launch in October, following its pilot programs which the SEC has described as limited-operation pilot programs.