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06 June 2024
US
Reporter Klea Neza

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DTCC testifies to Congress on opportunities to advance financial markets

Nadine Chakar, managing director and global head of DTCC Digital Assets, has testified before the House Financial Services Subcommittee on Digital Assets.

Chakar talked about the potential for tokenisation to transform today鈥檚 financial markets through further automation, increased efficiency and lower costs.

In the hearing, titled 鈥楴ext Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets, Chakar testified to benefits that could be offered by employing digital ledger technology in transaction processing and lifecycle management of real-world financial assets, such as tokenised securities in the US markets.

The challenges inherent in developing an integrated digital assets platform for the industry were also discussed, noting that 鈥渢echnology on its own will not change the markets 鈥 it will require collaboration and coordination among all stakeholders, and it needs to be measured and thoughtful.鈥

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