HashKey Group has joined the DTCC's Digital Assets Advisory Services Industry Working Group as its first Asian digital asset service provider, bringing Asia-Pacific regulatory and operational experience to discussions on global tokenization standards ahead of DTCC's planned October service launch.
The Hong Kong-based firm joins more than 100 financial institutions, asset managers, and digital asset companies in the group, including JPMorgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange. HashKey operates across digital asset trading, asset management, and on-chain infrastructure, with activities spanning Hong Kong, Singapore, Japan, and Bermuda.
HashKey has been involved in tokenization initiatives in Asia since 2023, participating in the Hong Kong Monetary Authority's Project Ensemble Architecture Community and the Tokenised Bond Expert Group. The firm has supported the issuance and circulation of tokenized money market ETFs, bonds, and notes in Hong Kong.
The working group is focused on how tokenized securities can be issued, transferred, settled, and safeguarded within existing global capital markets infrastructure. DTCC's approach creates tokenized representations of eligible securities already held at the Depository Trust Company, rather than moving underlying assets outside the established custody system, preserving existing ownership records, compliance controls, and investor protections.
DTCC completed its first batch of production-environment transactions on July 15, covering collateral pledging, securities lending, US Treasury repo delivery-versus-payment transactions, and equity transfers. The transactions ran across DTCC's private Hyperledger Besu infrastructure and the public Canton Network. Assets involved included Microsoft and Circle shares, the Invesco QQQ Trust, the SPDR S&P 500 ETF, and a BlackRock Treasury ETF. DTC held more than $114 trillion in securities assets as of 2025.
DTCC plans to introduce standardized tokenization services in October 2026, with compliance and distribution controls in the initial release and additional capabilities for issuance, servicing, and corporate actions potentially to follow.
HashKey's participation does not represent regulatory approval of its products, membership in DTC, or a commercial agreement with DTCC.
