Coin Center, a non-profit group focused on public policy related to cryptocurrency and blockchain technology, announced Monday support for the organization from the Depository Trust & Clearing Corporation (DTCC), a post-trade financial services firm.
In addition, Mark Wetjen, DTCC’s head of global public policy, has been appointed to the center’s advisory board, which includes prominent academics, technologists and investors such as Marc Andreessen, general partner at Andreessen Horowitz, and Fred Wilson, managing partner at Union Square Ventures.
“Distributed ledger technology offers the financial industry a unique opportunity to advance targeted improvements to the infrastructures that underpin the global capital markets,” said Wetjen, a former commissioner of the Commodity Futures Trading Commission, in a press release sent to CoinReport. “Distributed ledgers provide an opportunity to innovate. I am pleased to join Coin Center’s board of advisors and look forward to working toward a regulatory climate that is welcoming to these exciting technologies.”
Coin Center executive director Jerry Brito said in the press release, “With its support of Coin Center, DTCC demonstrates its commitment to fostering innovation that pushes technology forward.”
Earlier this year, DTCC said it would start testing an application of the blockchain to help mitigate issues related to short-term markets known as repurchase agreements, or “repos.”
Mark Wetjen’s photo – Public domain image via CFTC’s website
Jerry Brito’s photo – Via Coin Center’s website (CC BY-SA 3.0 US)