Etrading software integrates new ISO-based Digital Token Identifier (DSO) rates CryptoNinjas

Trading Software, through its non-profit division DTI Foundation, announced today that it has launched a new service to enable tracking of all digital assets. The service will provide digital asset identifiers based on the new ISO standard, the Digital Token Identifier (DSO).

ISO has selected Etrading Software to be the registration authority for this standard.

This new service complements the existing ISO standard for tracking a trade opponent through Legal Entity Identifier (LEI). It was designed by the same committee that defined the ISO standard for the Unique Product Identifier (UPI) to track all OTC derivatives worldwide. Both the LEI and the UPI have been advised by the Financial Stability Board to increase risk management and transparency in the traditional cryptocurrency market for business regulatory reporting across the G20.

The new DTI cryptocurrency has expanded the scope of ISO standards in the token asset class.

“We are delighted that the new DTI has begun work, helping the industry identify digital resources based on objective, verifiable information. This is an important step for the industry to identify digital resources, in a standardized way and to reduce opacity, increase transparency and consistency, enable greater global interoperability and reduce barriers to greater institutional investment in this growing asset class. ”
Sasan Danesh, Managing Partner of Trading Software

Initially, the DTI Foundation issued identifiers for the top 100 cryptocurrencies in terms of market capitalization. In addition to opening registrations for market participants, the DTI Foundation aims to provide additional identifiers to market participants and regulators as needed, giving priority to stable currencies.

“ISO 24165 can be used by investors, exchanges, data aggregators, ecosystem participants, regulators and issuers who can now submit an application to register a camouflage digital token and obtain a DTI, a random, unique and unambiguous identifier. Eligibility to register for DTI based on objective and verifiable information provided by the applicant will help the market to identify different tokens that can be exchanged, collected, listed or tracked.
Dominic Tanner, Chairman of ISO / TC 68 / SC 8

Anti-money laundering by DTI regulators can be used to address the financing needs of terrorists and to monitor systemic risks arising from global stable currency and other digital asset trading. Furthermore, a digital token can be used individually by DTI market participants (for example to make a vague distinction between ‘Bitcoin’ and ‘Bitcoin Cash’) which increases the transparency of market participants and reduces operational risk.

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