In a significant step towards standardization and transparency in the digital asset market, CCData, an FCA-authorized 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 company on a mission to solve 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 from both parties to access metadata for more than 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 increase transparency in the fast-growing digital asset market.
As the digital asset industry continues to expand, the availability of standardized identifiers that integrate seamlessly with conventional financial systems becomes increasingly important. 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 financial instruments themselves.
The ISO DTI standard for digital token identification is gaining popularity among crypto and digital asset market infrastructure providers, service providers and regulators. The European Securities and Markets Authority (ESMA) is expected to include DTIs as the identifier for crypto assets under the requirements of the Markets in Crypto-Assets (MiCA) regulations on transparency reporting, order book, offering and archiving. Meanwhile, the ISO ISIN standard is already required by ESMA for reporting MiFID II regulated financial instruments, including tokenized securities.
By including ISINs and DTIs in CCData’s Asset Metadata product, stakeholders gain improved access to digital asset identification standards that are consistent across fragmented markets, while simultaneously giving users 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 more than 7,000 key digital assets.
Charles Hayter, CEO and co-founder of CCData, emphasized the importance of this integration, stating that it is a critical step toward improving 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 through a single API endpoint, improving data availability and universal identification standards across all exchanges.
Stephan Dreyer, Managing Director of ANNA, expressed his enthusiasm about the collaboration and emphasized its alignment with ANNA’s mission to promote standardization within the financial sector. He stated that their goal is to bring greater transparency to the spectrum of new innovative assets through the use of global interoperable standards, and this partnership represents 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 promote transparency and efficiency in the digital asset ecosystem, which is a positive development for all stakeholders in the sector.
As the digital asset market continues to mature, partnerships such as this one between CCData, ANNA and DTIF are essential to driving standardization, transparency and interoperability. By leveraging global identification standards and providing easy access to comprehensive asset metadata, this collaboration will benefit a wide range of stakeholders, from investors and regulators to service providers and market infrastructure players.
Featured image via Pixabay
