## DTCC Enters ERC-3643 Alliance, Boosting Tokenization Initiatives
The Depository Trust & Clearing Corporation (DTCC), the main clearing organization for securities trading in the United States, has become a member of the ERC-3643 Alliance. This action demonstrates DTCC’s dedication to promoting the ERC-3643 standard for regulated security tokens on the Ethereum blockchain.
DTCC announced its closer cooperation TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America blockchain-based financial solutions in a press statement on March 20. The ERC-3643 standard, also known as the T-REX protocol, is an open smart contract standard for issuing and administering permissioned tokens.
ERC-3643 makes use of a decentralized identity framework, which ensures that only authorized users can own these assets, even on a public blockchain. Currently, more than 40 tokens are being created and managed using this standard, which has already been used to tokenize $28 billion in assets across more than 180 countries.
The incorporation of ERC-3643 into DTCC’s ComposerXTM platform, which includes the ComposerX Factory tokenization engine, is intended to improve risk management, security, and compliance in digital asset markets. It also promises to lower operational expenses and complexity.
ERC-3643’s automation capabilities are projected to improve liquidity, accelerate settlement times, and increase transparency by connecting real-world assets with a wider pool of market participants.
> “DTCC’s dedication to the open-source ERC3643 token standard is in line with our goal of building a more efficient and secure financial market.”
>
> — Nadine Chakar, Global Head of Digital Assets at DTCC
DTCC handled securities transactions worth $3 trillion in 2023 and held $85 trillion in assets across more than 150 countries. The company has been actively researching blockchain applications, such as tokenizing private assets on an Avalanche (AVAX) subnet and settling tokenized U.S. Treasury bonds on the Canton Network.
The backing of the Depository Trust & Clearing Corporation (DTCC) indicates an increasing embrace of blockchain finance among American watchdogs. The Commodity Futures Trading Commission (CFTC) is also investigating uses for blockchain tech.
To deliberate the commencement of its virtual asset marketplace trial initiative, the CFTC revealed a CEO gathering on February 7th, welcoming business executives from Circle (USDC), Coinbase, Crypto.com, MoonPay, and Ripple (XRP). Stablecoins and other tokenized non-cash security will be assessed as a component of this project. This demonstrates that even the American administration is beginning to recognize cryptocurrency in general.
