DTCC Moves to Next Stage of Digital Asset Blockchain Trial

The Depository Trust Clearing Corporation (DTCC) has completed the first leg of a post-trade distributed ledger trial conducted in partnership with startup Digital Asset Holdings.

The DTCC, which oversees the clearing and settlement of more than $1qn in US securities each year, said that it would look to expand the trial – which focused on the netting process for US Treasury and agency repurchase agreement transactions – by including more parties in the next planned phase.

As part of that step, DTCC and Digital Asset will convene a Stakeholder Working Group dedicated to this purpose. There, the two firms will solicit feedback on the technology, with an eye to use that input to inform the development process.

In statements, DTCC struck a bullish tone about the future prospects of its blockchain work.

Michael Bodson, president and CEO of the company, said of the trial:

“We are very pleased with the results from our repo proof-of-concept effort with Digital Asset, and we see this project as another validation of the potential of this exciting, emerging technology.”

The firm is projecting a completion date for its second test phase by June, and from there, it will assess whether to push

Read more ... source: CoinDesk

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