Following its announcement in July launching SIX Digital Exchange (SDX) to address the opportunities in the digital asset space, SIX today announced that it has taken a minority stake in PassOn AG, a Swiss start-up specialising in the transfer of digital assets as part of inheritances.

According to Valerio Roncone, Head Product Management & Business Development, Securities & Exchanges at SIX, ‘The challenge in the digital asset space is to ensure clean, transparent and legally binding title to the assets between parties. This requirement is identical for counterparties who are exchanging assets whether they are living or deceased. The Distributed Ledger-based solution developed by PassOn will help enable such asset transfer seamlessly.’

As part of the investment by SIX, Roncone will become a Board Member of PassOn AG.

According to Stephan Wippermann, CEO, PassOn AG, ‘We aim to leverage the latest Blockchain and Smart Contract technologies to bring inheritances into the digital age. We are preparing our ICO to fund the development of our digital estate planning and inheritance platform. In parallel, we will explore how to use SDX offerings such as listing or secure storage of the PassOn token to leverage the SIX digital ecosystem.’ 

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SIX

SIX operates and develops infrastructure services in the Securities & Exchanges, Payments and Financial Information business units with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss financial center. SIX is owned by its users (127 banks). With a workforce of some 4,000 employees and a presence in 23 countries, it generated operating income in excess of CHF 1.9 billion and Group net profit of CHF 207.2 million in 2017.
www.six-group.com
 
PassOn AG
PassOn is a Swiss startup for asset transmission and storage on blockchain. PassOn develops an infrastructure aiming at bringing inheritance into the digital age and making it accessible to everyone in the simplest and most efficient way. PassOn's technology allows for the direct, safe and immediate transfer of bankable and non-bankable, traditional and digital assets to beneficiaries. Using the latest technologies, PassOn works closely with regulators, established market players and lawmakers capable of building a new global standard.
www.PassOn.com