Today the SIX Digital Exchange unveiled its SDX Web3 Services offering targeting financial institutions. The initial elements of the service are digital asset custody and non-custodial crypto staking with the aim of supporting cryptocurrencies, NFTs and other assets.
“Our track record at SIX in providing innovative, functionally rich, efficient, and secure capital markets technology – coupled with SIX Digital Exchange’s deep expertise in digital assets and blockchain – means that SDX is perfectly positioned to help our clients in managing their Web3 activities in a safe and secure manner by providing those clients with the highest standard of Web3 infrastructure services,” said David Newns, Head of SDX.
Late last year, when we spoke to SDX’s Head of Finance and Risk, Mathias Studach, he shared the cryptocurrency plans. Part of the rationale is the vision of the cryptocurrency sector and the institutional one converging. “The regulatory requirements on the crypto side will increase. And today, banks are struggling to enter the crypto world. It has different processes. There are more risks involved,” said Studach.
In late 2020 SIX invested in digital asset custody platform Custodigit, a joint venture between telecoms firm Swisscom and Swiss digital bank Sygnum.