Hashkey Group has joined the Depository Trust & Clearing Corporation’s (DTCC) Digital Assets Advisory Services Industry Working Group as its inaugural Asian digital asset service provider.
The working group, which includes more than 100 global financial institutions and asset managers, aims to establish standards for the issuance, settlement and safeguarding of tokenized assets at institutional scale. Participants include JPMorgan Chase, Goldman Sachs, Nasdaq and the New York Stock Exchange (NYSE), according to Hashkey’s announcement.
DTCC, a core post-trade infrastructure provider in traditional financial markets, formed the group to bridge traditional finance with decentralized finance (DeFi) infrastructure. The organization custodies $114 trillion in liquid assets, including stocks and exchange-traded funds.
The working group is scheduled to enable access to tokenized securities in October. The initiative follows a December decision by the U.S. Securities and Exchange Commission (SEC), which issued a “no action” letter to a DTCC subsidiary, permitting the pilot program for tokenized securities market services.
SEC Chairman Paul Atkins stated in a December 12 post on X that the approval represents the beginning of a broader effort to consider innovation exemptions for tokenization, allowing market participants to transition to onchain systems without excessive regulatory constraints.
Atkins first proposed the exemption during a June 9 speech at the Crypto Task Force Roundtable on DeFi.
