In a significant move towards standardization and transparency in the digital asset market, CCData, an FCA-authorised benchmark administrator and leading provider of digital asset data and index solutions, has announced a strategic partnership with the Association of National Numbering Agencies (ANNA) and the Digital Token Identifier Foundation (DTIF), “a non-profit division of Etrading Software, a financial technology firm with a mission of solving market-wide problems by building market infrastructures for the new digital economy.” The collaboration aims to introduce Digital Token Identifiers (DTIs) and International Securities Identification Numbers (ISINs) into CCData’s Asset Metadata solution.
According to the press release shared with CryptoGlobe, the integration of DTIs and ISINs will enable stakeholders of both parties to access metadata for over 7,000 digital assets and their respective ISO identifiers through CCData’s REST API. By distinguishing between the ISIN-identified asset and its blockchain-based implementation, identified by DTI, this partnership seeks to enhance transparency in the rapidly growing digital asset market.
As the digital asset sector continues to expand, the availability of standardized identification data that seamlessly integrates with conventional financial systems becomes increasingly crucial. In 2023, ANNA and DTIF established a joint task force to ensure a complementary relationship between the ISIN and DTI standards. The task force has made progress by introducing ISINs assigned by ANNA, which are recognized by a new XT ISIN prefix. These ISINs are based on DTIs for digital assets that are not themselves financial instruments.
The ISO DTI standard for digital token identification is gaining traction among crypto and digital asset market infrastructure providers, service providers, and regulators. The European Securities and Markets Authority (ESMA) is expected to embed DTIs as the crypto-asset identifier under the Markets in Crypto-Assets (MiCA) regulation’s transparency reporting, order book, offering, and record-keeping requirements. Meanwhile, the ISO ISIN standard is already required by ESMA for reporting MiFID II regulated financial instruments, which would include tokenized securities.
By incorporating ISINs and DTIs into CCData’s Asset Metadata product, stakeholders gain enhanced access to digital asset identification standards that are consistent across fragmented markets while simultaneously providing users with access to underlying blockchain and asset data. Through a single endpoint, users can access comprehensive asset information, including historical supply, contract addresses, and network indicators for over 7,000 major digital assets.
Charles Hayter, CEO and Co-Founder of CCData, emphasized the importance of this integration, stating that it marks a vital step towards enhancing CCData’s interoperable capabilities while significantly increasing transparency for their user base. He added that market participants can now seamlessly access identification standards and asset metadata via a single API endpoint, enhancing data availability and universal identification standards across exchanges.
Stephan Dreyer, Managing Director for ANNA, expressed excitement about the collaboration, highlighting its alignment with ANNA’s mission to foster standardization within the financial industry. He stated that their aim is to bring greater transparency to the spectrum of new innovative assets through the use of global interoperable standards, and this partnership provides a step forward in applying consistent identification standards to the growing universe of digital assets.
Rowan Varrall, Associate Director at DTIF, described the partnership as a testament to the strength of their products and a clear indication that ISO DTI will become the industry standard for digital token identification. He emphasized that their work with ANNA has helped foster transparency and efficiency in the digital asset ecosystem, which is a positive development for all industry stakeholders.
As the digital asset market continues to mature, partnerships like this one between CCData, ANNA, and DTIF are essential in promoting standardization, transparency, and interoperability. By leveraging global identification standards and providing easy access to comprehensive asset metadata, this collaboration is set to benefit a wide range of stakeholders, from investors and regulators to service providers and market infrastructure players.
Featured Image via Pixabay
