Today the SIX Digital Exchange (SDX) announced it’s expanding its institutional cryptocurrency services through a partnership with DLT Finance, a BaFin-licensed trading and brokerage firm. SDX will retain the role of custodian and staking provider, while DLT Finance’s subsidiary DLT Securities is the counterparty for brokerage and trading.
When TP ICAP launched its institutional Fusion Digital Assets platform in May, DLT Finance was one of the first three liquidity providers onboarded.
A key appeal of the DLT Finance relationship is the ability to provide regulated trading.
“The collaboration with DLT Finance further solidifies SDX Web3’s standing as a leading crypto service provider in Switzerland,” said Stephan Kunz, Head of SDX Web3 Services. “Likewise, it emphasizes the company’s position to offer a one-stop shop to financial institutions that are looking to scale their digital asset business.”
SDX is active in both cryptocurrency and digital securities. Like many other industry players, it sees the two as eventually converging. It launched its web3 offering in June 2022 through a partnership with Fireblocks and unveiled its staking solution a couple of months later.
Meanwhile, the institutional takeup of cryptocurrency in Switzerland is accelerating. Switzerland’s two digital asset banks Sygnum and SEBA have both signed major bank collaborations. Sygnum says it has 15 banking clients and provides the infrastructure for government owned PostFinance to offer retail crypto services. SEBA’s first key partner was Julius Baer. It recently announced St. Galler Kantonalbank as a client joining LGT Bank Liechtenstein.