The Depository Trust & Clearing Corporation (DTCC) backed efforts to integrate the ERC-3643 token standard into existing financial systems. This standard is widely used in real-world asset (RWA) tokenization.
The DTCC joined the ERC3643 Association to support the growth of the RWA industry. The company plans to add ERC-3643 support to its digital asset management platform, ComposerX, including ComposerX Factory, a specialized tokenization and financial process automation mechanism.
The DTCC is the largest provider of post-trade infrastructure for the global financial sector, processing transactions worth $3 quadrillion annually and offering asset custody services totaling $85 trillion.
ERC-3643 is a comprehensive token standard that integrates real-world assets (RWA) into the Ethereum blockchain ecosystem. The ERC3643 Association is a non-profit organization that promotes the development, adoption, and integration of this standard into existing financial infrastructure.
Developed by Tokeny, ERC-3643 is an open smart contract ecosystem for issuing, managing, and transferring permissioned tokenized assets. The DTCC’s support will automate tokenized securities processing, reduce operational costs, and enhance market transparency.
Integrating ERC-3643 into DTCC’s infrastructure will provide:
- enhanced security and compliance;
- automation of tokenized asset transactions on a global scale;
- optimized data management, including faster settlements, improved risk management, and access to new investment opportunities;
- increased liquidity in the RWA sector and a larger investor base;
- expanded on-chain capabilities, such as issuance, transfer, and management of tokenized securities within a unified ecosystem.
The DTCC’s commitment to the ERC-3643 standard aligns with its vision of creating a more efficient and secure financial market, marking another step in its corporate strategy to develop the financial market infrastructure of the future, according to Nadine Chakar, Global Head of DTCC Digital Assets.
Luc Falempin, CEO of Tokeny, noted that the DTCC’s membership in the ERC3643 Association will accelerate the standardization of on-chain finance and foster a truly interconnected financial system. Dennis O’Connell, President of the ERC3643 Association and Strategic Advisor to the DTCC, added that the company’s initiative is a turning point for the RWA industry, accelerating the institutional adoption of tokenization technology on a global scale.
