- DTCC, Clearstream, and Euroclear will partner with the Boston Consulting Group for a $16 trillion vision plan toward a better digital asset future.
- The partnership is defined by a clear blueprint, forecasting a $16 trillion vision plan.
- Partners will review piles of regulations and whitepapers from industry players for a streamlined digital asset ecosystem.
Discover how DTCC, Clearstream, and Euroclear are shaping the future of digital assets with a $16 trillion vision plan in collaboration with the Boston Consulting Group.
DTCC and partners envision a $16 trillion opportunity within the global digital asset ecosystem
DTCC, Euroclear, and Clearstream have joined hands with the Boston Consulting Group towards a contemporary digital asset ecosystem. The firms envision a $16 trillion opportunity within the global digital asset space.
In a work plan, titled Advancing the Digital Asset Era, Together, the firms introduce a blueprint to remove obstacles. Among the cited detractors in the path to industry growth, include “years of smaller-scale deployments,” according to the report, which cited “sub-scale, isolated pools of instrument liquidity on proprietary DLTs [Distributed Ledger Technologies].”
To this end, DTCC and the team will review almost 100 regulations and whitepapers from diverse ecosystems within the industry. They also plan to conduct more than 20 interviews with different market participants and technology vendors.
Innovation And Adoption Remains Fragmented Despite Clear Opportunity, DTCC
There is only a handful of DLT protocols recording significant consolidated trading volumes. This, according to the report, is an obstacle to digital assets’ future because of a fragmented liquidity system and stagnating tokenization.
The aftermath is costly maintenance of digital assets relative to their traditional alternatives in the short term. The blueprint therefore highlights medium and long-term opportunities that are already in place. These are legal clarity, regulatory compliance, resilience and security, customer asset protection, connectivity and interoperability, and operational scalability.
Citing Managing Director and Global Head of DTCC Digital Assets, Nadine Chakar, “While many firms see potential in blockchain technology, including less risk and lower costs, the financial services industry still needs to pivot to distributed ledger technology.”
Chakar therefore calls for “Collaboration across a wide cross-section of firms to build the infrastructure, standards, controls, and governance to underpin digital markets.” Clearstream Managing Director, Head of Issuer Services and New Digital Markets, Jens Hachmeister, supported the call.
DTCC Digital Assets mobilizes the power of blockchain technology to build a global, liquid, and interconnected ecosystem for digital assets. Its key capabilities leverage blockchain to tokenize any asset, automate compliance, support market requirements, and launch digital assets marketplaces.
Conclusion
The collaboration between DTCC, Clearstream, Euroclear, and the Boston Consulting Group marks a significant step towards a streamlined and efficient digital asset ecosystem. By addressing regulatory and technological challenges, the partnership aims to unlock a $16 trillion opportunity, paving the way for a more integrated and secure digital asset future. The industry’s stakeholders are encouraged to collaborate and innovate to realize this vision, ensuring a robust and scalable digital market infrastructure.
