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SIX Stock Exchange Joins Venture Opening Up Digital Assets to Swiss Banks
SIX will join Swisscom and Sygnum in a new venture aimed to enable Swiss banks to offer digital assets to their customers.
Swiss stock exchange SIX has invested in Custodigit, an institutional-grade cryptocurrency custody firm founded by Swisscom and Sygnum in 2018.
STORY CONTINUES BELOW
- Announced Monday, the investment forms part of an agreement for a new venture in which SIX Digital Exchange will join the other two firms in enabling Swiss banks to offer digital assets to their customers.
- The joint Institutional Digital Asset Gateway, already listed on the SIX website, will provide services including trading, smart order routing and settlement, as well as secure asset storage though Custodigit.
- SIX exchange said the companies plan to launch the first services in the first quarter of 2021, with other capabilities to be added throughout the year.
- “By combining the strengths of Switzerland's leading financial infrastructure providers, we are enabling banks – in Switzerland and beyond – to quickly enter a new financial services era," said Johannes Höhener, the head of fintech at Swisscom.
- Sygnum is a digital asset finance firm with a banking license from Swiss regulator, the Financial Market Supervisory Authority. Swisscom is a major telecoms firm, majority owned by the Swiss government.
See also: Swiss Stock Exchange Invests in Institutional Trading Platform for Digital Assets
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
