Etrading Software (ETS), acting as exclusive Registration Authority for the new International Organization for Standardization’s (ISO) standard for Digital Token Identifiers (DTIs), announced the DTI Registry which will assign ISO’s DTI Identifiers to digital tokens globally, has gone live.
Etrading Software’s Digital Token Identifier Foundation (DTIF), a non-profit division of the company, is responsible for the DTI Registry. The foundation’s mission is to provide the golden source reference data for the unique identification of digital tokens based on ISO’s new standard for digital assets, ISO 24165. The launch is ahead of the ISO standard that is scheduled to be published in Q3 2021 to meet urgent industry and any regulatory need.
The DTIF has pre-seeded the registry with 100 tokens, and over 70 fork records associated with these tokens. It will continuously be adding and verifying the normative and informative token data in preparation for the full launch. The scope of DTI issuance is all fungible digital assets which use distributed ledger technology for their issuance, storage, exchange, record of ownership, or transaction validation and are not a “fiat” currency (as defined by ISO 4217).
Sassan Danesh, managing partner of Etrading Software, said in a statement: “The purpose of the DTI is to address the demands of exchanges, custodians, financial institutions, and regulatory authorities for a registry and identifier assignment process for digital tokens, to mirror the use of ISINs and UPIs in the digital asset space.”
Lawrence Wintermeyer, executive co-chair of Global Digital Finance (GDF), said in a statement: “This new industry standard, when adopted by digital asset service providers, data providers, and regulators, will contribute, alongside the GDF Code of Conduct, to the mainstream adoption of digital assets in an orderly and standardized way.”
Dominique Tanner, chairman of ISO TC 68/SC 8, said in a statement “ISO TC 68/SC 8 is glad to see this exciting development, meaning over a hundred digital tokens can now be uniquely identified based on objective, verifiable information. The underlying data used to assign identifiers has been made public on the DTIF website. This is an important step for the industry in being able to unambiguously identify digital assets, in a standardized way.”
Rudolf Siebel, MD, BVI German Investment Funds Association, said in a statement, “Standardizing the identification of digital assets will bring a host of benefits for industry, by reducing ambiguity, increasing transparency and consistency, and lowering the bar for greater institutional investment in this burgeoning asset class.”
Tony Pettipiece, representing policy and regulation for Global Digital and Cryptocurrency Association’s board of directors, said in a statement: “This standard will create a foundation for growth while also providing for straight-through-processing and global interoperability across the ecosystem for the registration, classification, issuance, trading, settlement, accounting and regulatory reporting of the nascent asset class.”