SIX Group — the proprietor and operator of Switzerland’s inventory change — introduced plans to launch a fully-integrated digital asset infrastructure for buying and selling, settlement, and custody of digital currencies primarily based on Distributed Ledger Expertise (DLT).
The “Starting of a New Period”
In an official announcement on Friday, July 6, SIX Group introduced its intentions to launch a DLT-based digital asset infrastructure. In response to the publication, the SIX Digital Trade (SDX), because the mission is dubbed, will allow the tokenization of current securities in addition to non-bankable belongings — turning them into totally tradeable belongings.
SIX Group intends to carry a collection of funding instruments, together with a buying and selling platform, settlement and custody service for digital belongings — in addition to a “protected setting for issuing and buying and selling digital belongings.”
Notes Jos Dijsselhof, CEO at SIX:
That is the start of a brand new period for capital markets infrastructures. For us it’s abundantly clear that a lot of what’s going on within the digital house is right here to remain and can outline the way forward for our trade. The monetary trade now must bridge the hole between conventional monetary providers and digital communities. That is the position that we at SIX can play.
Regulation and Transparency
SDX seems to be attempting to introduce transparency and accountability in a discipline that they think about to be riddled with challenges.
Thomas Zeeb, Head of Securities & Exchanges at SIX, mentioned:
The digital house presently faces quite a few key challenges. These embrace the absence of regulation that ensures official security, safety, stability, transparency and accountability – all of which contribute to an absence of belief. The problem is much less within the buying and selling of belongings however slightly within the custody and asset servicing, together with asset security.
Regulated as an operator of Monetary Market Infrastructure, SIX operates beneath the purview of the Swiss Nationwide Financial institution and the Swiss Monetary Market Supervisory Authority (FINMA). Its intentions are that the deliberate digital asset infrastructure will even get pleasure from the very same excessive requirements of regulation and oversight.