The SDX blockchain platform of SIX Group’s stock exchange and the custodial firm Custodigit will launch the “Institutional Digital Asset Gateway” in the first quarter of 2021.
News: SIX joins forces with Swisscom & Sygnum joint-venture Custodigit to build Institutional Digital Asset Gateway
Read the press release here: https://t.co/EtzjFZHd0M@Swisscom_de @SDX_global , #Custodigit @Mat_CH_IND pic.twitter.com/iBRhMs0SdU— Sygnum Bank (@sygnumofficial) December 7, 2020
Custodigit was founded in 2018 by telecommunications and IT provider Swisscom and the crypto bank Sygnum, with a license from the local regulator FINMA.
After receiving regulatory approval, the partners will present a “full value chain for creating investment value” of access to digital assets for banks.
Financial institutions and their clients will be able to access trading, a smart-order routing system, settlement and custody of cryptocurrencies, and access to secondary markets. The platform’s functionality will be expanded during 2021.
“In conjunction with testing of the national digital currency of the Bank for International Settlements, the Swiss National Bank and SIX, the institutional gateway is potentially one of the most significant shifts in the digital-finance space. Custodigit is an active operator providing digital asset services, not merely a concept,” said Thomas Zib, chairman of SDX.
In August 2021, the Swiss Finance Ministry began discussions on establishing a legal framework for regulating blockchain and the crypto industry at the state level.
Earlier, the legal norms for the trading of digital securities, asset-return procedures, and the requirements for launching trading platforms were approved by the Senate and House of Representatives.
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