DTCC and its partners, Euroclear and Clearstream, along with the Boston Consulting Group, have developed a blueprint for the global digital asset ecosystem. This blueprint aims to tackle obstacles that hinder industry growth, such as sub-scale deployments and fragmented liquidity systems. The partners believe that there is a $16 trillion opportunity within the digital asset space, but this can only be realized by removing these detractors.
To achieve this goal, the firms are reviewing regulations, conducting interviews with market participants and technology vendors, and identifying medium and long-term opportunities for legal clarity, regulatory compliance, resilience and security, customer asset protection, connectivity and interoperability, and operational scalability. Despite the clear opportunity in the digital asset space, innovation and adoption remain fragmented, with only a few DLT protocols recording significant trading volumes.
Nadine Chakar, Managing Director and Global Head of DTCC Digital Assets, emphasizes the need for collaboration across firms to build the infrastructure, standards, controls, and governance required for digital markets to thrive. Jens Hachmeister, Clearstream Managing Director, also supports this call for collaboration. DTCC Digital Assets aims to leverage blockchain technology to tokenize assets, automate compliance, support market requirements, and launch digital assets marketplaces in order to create a global, liquid, and interconnected ecosystem for digital assets.
In conclusion, DTCC and its partners are working towards advancing the digital asset era by addressing obstacles, promoting collaboration, and leveraging blockchain technology. By removing detractors and fostering innovation and adoption, the partners believe that the $16 trillion opportunity within the global digital asset space can be realized. The blueprint developed by DTCC and its partners outlines clear opportunities and strategies for building a robust digital asset ecosystem that benefits the financial services industry and market participants.
