PANews reported on March 21 that according to Cointelegraph, according to an announcement on March 20, the Depository Trust & Clearing Corporation (DTCC), the main clearing agency for U.S. securities transactions, has pledged to promote Ethereum's ERC-3643 standard for licensed security tokens. DTCC will join the ERC3643 Association, a non-profit organization dedicated to promoting the adoption of the standard, with the goal of "promoting and advancing the ERC3643 token standard." This support highlights the positive attitude of U.S. regulators towards tokenization after President Trump vowed to make the United States the "crypto capital of the world." This also shows that the Ethereum blockchain network may play an important role in the U.S.'s licensed security token ecosystem.
Dennis O'Connell, chairman of the ERC3643 Association, said in a statement: "DTCC will help lead the future of tokenization and support mass institutional adoption." ERC-3643, also known as the T-REX protocol, is "a set of open source smart contracts that support the issuance, management and transfer of permissioned tokens...even on permissionless blockchains," according to the ERC3643 Association website. It relies on a custom decentralized identity protocol to ensure that only users who meet preset conditions can become token holders.
