The Long Disrupt: How Blockchain Startups Are Reshaping the DTCC
Robert Palatnick has no delusions about the changing role of The DTCC, a centralized transaction processing firm that has recently been in the crosshairs of blockchain disruptors. Yet, the chief technology architect at the post-trade services behemoth (it processes $1.5qn in annual transactions) tells CoinDesk the DTCC's strengths in risk management are no less important in a blockchain world. What will change, he now believes, is the technology the company employs. While some startups using distributed ledger technology are working to undermine centralized transactions processors, others....
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The Wall Street companies may soon start using blockchain technology based services provided by DTCC. Blockchain technology in banking and fintech is not a new thing. The sector has been working on implementing the distributed ledger technology into its operations for more than a year now. As they make progress, the Wall Street clearinghouse has decided to hop on the bandwagon by adopting blockchain technology. According to reports, Depository Trust and Clearing Corporation – DTCC has announced its intentions to start using Blockchain technology on a trial basis. DTCC is a leading firm....
The Depository Trust & Clearing Corporation (DTCC) has announced its plans to utilize Blockchain technology to facilitate credit default swaps in collaboration with IBM, Axoni and R3CEV. Axoni and the R3 consortium are competitors within the Blockchain industry and are both backed by multi-bln dollar banks and financial institutions. Axoni, in particular, garnered the interests of Goldman Sachs and JPMorgan in December of 2016, raising $18 mln from other organizations such as Wells Fargo and ICAP. The two startups will lead the development of the DTCC’s credit default swaps processing....
Digital currency startup Ripple Labs has appointed Donald Donahue, former CEO of the Depository Trust & Clearing Corporation (DTCC) as an advisor to the company. DTCC is the main clearing house for US securities and derivatives, processing more than $1.6 quadrillion in transactions per year. In his role as COO and then CEO, Donahue is thought to have led the DTCC's efforts in stabilising the financial system following the 2007-08 market crash. Donahue said in a company statement:
The listing of BlackRock’s Bitcoin ETF on DTCC has raised the hopes of many crypto enthusiasts on the potential approval of spot BTC ETFs. However, a renowned ETF expert has discouraged this optimism, stating that the recent DTCC listing has no significance. BlackRock DTCC Listing Downplayed Chief Executive Officer of Armada ETFs, Phil Bak took […]
The company that last year processed $1.6 quadrillion in securities has a lot to lose if it is cut out of the financial food chain. As a result, the Depository Trade & Clearing Corporation (DTCC) has been working diligently for the past several months to position itself at the center of a wide-range of experiments other companies are conducting with blockchain technology. Instead of fighting against the distributed ledger technology popularized by bitcoin, the DTCC has embraced the new tool and is doing what it can to help define the future architecture of the industry, even if that....