DTCC Buys Securrency as US Clearinghouse Deepens Blockchain Push

Depository Trust & Clearing Corp. agreed to buy startup Securrency Inc, part of the main US stock-market clearinghouse’s drive to offer blockchain technology and services for functions like post-trade processing of tokenized assets.

DTCC is paying about $50 million for Annapolis, Maryland-based Securrency, said people with knowledge of the matter, asking not to be identified discussing private information. Securrency’s technology could allow DTCC to facilitate issuance of securities like exchange-traded funds on blockchain networks, DTCC Chief Executive Officer Frank La Salla said. The deal, which is expected to close in the coming weeks, marks DTCC’s first acquisition since 2013 ...