The deal will enable companies on daura to issue digital securities or security tokens in SDX’s regulated central securities depository (CSD) and use SDX as a secondary market.
daura already allows unlisted SMEs to digitize their share register using blockchain and raise capital by issuing native security tokens, with 55 companies raising over CHF 17 million ($18m) to date.
SDX provides a CSD and marketplace for institutions. The platform was launched in November last year and is built using R3’s Corda enterprise blockchain. Since its launch, SDX has onboarded major investment banks, including UBS, Credit Suisse, and Zürcher Kantonalbank.
Meanwhile, SDX will be daura’s second marketplace. Working with Swiss bank Berner Kantonalbank, in December the over the counter (OTC) SME|X marketplace for digital assets was launched. This platform is open to retail investors and via Berner Kantonalbank. In contrast, SDX does not go direct to retail. But it provides access to the three big Swiss banks, and more are onboarding. Companies on daura will now be able to allow their stock to be traded on both SDX and SME|X or choose just one platform.
“This partnership with daura, represents a milestone shift in the way our industry functions. This approach builds on the relationship strengths of an organization like daura – where the digital securities are issued – and the separate, trusted and regulated strengths of SDX as a digital market infrastructure,” said David Hatton, Head of Product at SDX. “This is another major step in establishing and developing the future ecosystem for the issuance, custody, and transfer of securities in private markets. We plan many more such partnerships as we build out our ecosystem.”