The Currency Analytics
By Maheen Hernandez
The Depository Trust and Clearing Corporation maintain a master record for $48 trillion worth in stocks, bonds and other kinds of assets.
The symposium also highlighted several other hot technologies like cloud and artificial intelligence.
The DTCC is planning to launch its own blockchain technology. The DLT from DTCC is designed to store $10 trillion worth of annual transactions.
Michael Bodson, DTCC CEO stated, “The potential of DLT is undeniable.” While reading from prepared remarks, he mentioned, "But the question remains whether its enormous…
Bodson compared the potential of blockchain technology to be one that can help modernize the global financial infrastructures.
Executives from Bakkt, Fidelity, and Northern Trust formed a panel. The panel featured cryptocurrency and other crypto assets.
Kelly Leoffler, CEO at Bakkt, worked for 15 years at Intercontinental Exchange, an NYSE parent company.
Leoffler stated, “It is part of our hope that there’s institutional interest for crypto.” Bakkt is building the institutional infrastructure for cryptocurrency trading and…
Leoffler highlighted on filing with the New York Department of Financial Services to become a qualified custodian. Thus, acquiring a cryptocurrency custody company.
Starbucks, Coffee Giant, has been named as a launch partner by Leoffler to let the business accept cryptocurrency.
Leoffler further stated, “They can get the benefits of crypto assets without being exposed to some of the risks.”
A poll was taken from the audience comprising of nearly 300 DTCC customers and a few others.