SBI Holdings and SIX to build blockchain platform for institutional clients

The digital subsidiaries of Switzerland’s SIX Swiss Exchange and Japan’s financial conglomerate SBI Holdings announced the launch in Singapore of a blockchain platform for institutional clients from Europe and Asia.

#News! SIX Digital Exchange and @SBI_DAH will work together towards a Singapore-based joint exchange venture to drive institutional #digitalasset liquidity!
Learn more➡️https://t.co/bZXaqAz2iv#blockchain #digitalexchange #fintech #singapore #sbigroup #sdx #tokenization pic.twitter.com/6sXl5SOWd6

— SIX Digital Exchange (@SDX_global) December 8, 2020

The initiative awaits regulatory approval from the local regulator. It is expected to occur no later than 2022.

The joint venture SIX Digital Exchange (SDX) and SBI Digital Asset Holdings will offer issuance, listing, trading, and central securities depository infrastructure for digital assets, cryptocurrencies, and regulated security tokens.

“The platform will create a powerful institutional corridor between Europe and Asia,” said SBI Holdings CEO Yoshitaka Kitao.

“A focus on global liquidity. This is what institutional investors want — to trade from 9 to 16 on their home market, and then move to the next, and the next,” explained Tim Grant, head of SDX.

In October, SBI Holdings became the owner of the cryptocurrency exchange TaoTao. It was integrated into the subsidiary company SBI Liquidity Market.

The conglomerate’s partner is the American startup Ripple, with which they have collaborated since 2016. In 2018, SBI Holdings launched a mobile payments app built on RippleNet.

SIX Swiss Exchange is known for listing exchange-traded products on Bitcoin and other cryptocurrencies, and for developing the SDX blockchain platform for security tokens.

Earlier it was announced that SDX and custodial Custodigit will launch the Institutional Digital Asset Gateway.

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