The Asian Banker Thursday, 18 July 2024

Digital Token Identifier Foundation joins FCA’s Digital Sandbox

5 min read

The Digital Token Identifier Foundation (DTIF), created by Etrading Software (ETS) to provide ISO standard identifiers for digital assets based on open data principles, today announced they have joined the Financial Conduct Authority’s (FCA) Digital Sandbox.

The DTIF has been onboarded as a data supplier, and Denis Dounaev, product owner of Digital Token Identifier (DTI) is also recognised as a mentor under the Digital Sandbox Programme.

As Registration Authority (RA) for the ISO 24165 standard, the DTIF’s mission is to provide the golden source reference data for the unique identification of digital tokens. DTI use is recommended under the EU’s DLT Pilot Regime and has been proposed by ESMA for crypto-asset identification under MiCA. The DTI Registry includes technical attributes for over 1,800 digital tokens. The data provided by the DTI Foundation to the Sandbox is an accurate representation of all data currently captured by the DTI Registry.

First piloted in 2020, the Digital Sandbox has shown that collaboration and access to data can stimulate beneficial innovation in the market. The Sandbox supports innovators and data providers at various stages of product development. It offers a testing environment that enables the DTIF to support firms at the early stage of product development by enabling experimentation to test proof of concepts.

Dounaev said: "We are very supportive of the objectives of the FCA's Digital Sandbox to build new technology-based solutions. We welcome participants to explore our new dataset for digital tokens and their ledgers. This is a great opportunity to collaborate with other key stakeholders in the digital space."

Re-disseminated by The Asian Banker

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