State Street has been appointed to provide custody services to the Digital Securities Depository Corporation (DSDC). DSDC operates a cross-border securities settlement infrastructure with third-party regulated financial institutions to create, issue and service digital depositary receipts (DDRs) in the US public market. The securities underlying the DDRs will include the non-US listed equity securities DSDC holds in custody with State Street. State Street will provide safekeeping, transaction settlement, dividend collection, and FX payment services to DSDC for its holdings of non-US listed equity securities.
DSDC is a newly created U.S. company that provides the structure for governance and support of the DSDC infrastructure network enabled by KALYPTechnologies, a UK-based technology provider for distributed market infrastructure to the securities industry.