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