The Swiss stock exchange SIX has been looking to attract external investors for a 30% share in the SIX Digital Exchange (SDX), the digital asset initiative, which is due to launch in Q4 this year. Last week, Financial News (FN) reported that the COVID-19 crisis had resulted in investor discussions being slower than expected and the current valuation is uncertain given the climate.
“I’m not overly concerned by it because the rationale for doing it isn’t that SIX needs the money to invest,” said Thomas Zeeb, the Head of Securities & Exchanges at SIX Group, talking to FN. Instead, the aim is to attract investors that become committed customers reducing the risk of becoming a “white elephant”.
A spokesperson re-iterated to Ledger Insights that banks with more skin in the game would be more motivated to participate in the ecosystem. However, he emphasized there are no issues with the launch of the SDX platform and the timing is still on track for Q4.
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