HashKey Joins DTCC Digital Asset Working Group, a First for an Asian Firm

Hong Kong-based crypto firm HashKey has become the first Asian company to join the Depository Trust & Clearing Corp.'s digital asset advisory working group.

Cointelegraph reported on September 2 that HashKey recently joined DTCC's Digital Asset Advisory Services Industry Working Group. The company will work with more than 100 global financial institutions and asset managers, including JPMorgan, Goldman Sachs, Nasdaq and the New York Stock Exchange, to help develop standards for the issuance, settlement and custody of tokenized assets.

The working group was set up to connect traditional finance and decentralized finance infrastructure. DTCC plans to launch a tokenized securities service as early as next month in conjunction with the group.

The U.S. Securities and Exchange Commission previously allowed DTCC's securities tokenization service through a no-action letter issued late last year. At the time, SEC Chair Paul Atkins said the approval was only a starting point and that he would consider an innovation exemption so firms could innovate without excessive regulatory burdens as markets move on-chain.