Today the newly launched SIX Digital Exchange (SDX), the regulated exchange for digital assets, announced it’s partnering with FQX, the Swiss platform for eNotes, blockchain-based promissory notes. These are a type of formalized short term debt or IOU governed by the Geneva Convention. While promissory notes are typically used alongside bills of exchange for trade finance, they have many other applications.
FQX views the standardization that it offers through the eNote as a huge advantage to break down siloed short term financing markets. By providing a marketplace, SDX will help make the instruments more liquid by enabling investors to trade them easily.
SIX Fintech Ventures was one of the investors in FQX’s investors $4.7 million funding round last year. In January, the startup ran an eNote pilot with Credit Suisse and two Swiss manufacturers, SFS and Mikron. Credit Suisse is one of three banks that are currently live on SDX.
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