The Swiss Stock Exchange today agreed to take a major stake in Custodigit and to partner with Swisscom, Switzerland’s leading telecoms & IT company, and Sygnum, the first digital asset bank to be formally recognized by Switzerland’s regulator, FINMA.
Subject to the appropriate regulatory approvals, SIX Digital Exchange and Custodigit will provide a unique Institutional Digital Asset Gateway. The gateway will support the complete investment value-chain from trading, to smart order routing, to settlement, to custody as well as access to secondary markets. This partnership gives banks – and their customers – trusted, safe, secure, compliant yet seamless access to crypto-currencies and digital assets. Depending on a bank’s strategic objectives, it has the option to leverage Custodigit’s offering either through a direct platform integration solution, or a managed sub-custody setup as already provided by Sygnum.
An initial joint service, based on the already available Custodigit platform, will be released in Q1 2021 with plans to add significant capabilities throughout the year. The Institutional Digital Asset Gateway will enable banks to develop new financial services and yet to be imagined products around cryptocurrencies and digital assets for their customers. This partnership will also build upon the recent SIX investment in Omniex.
According to Thomas Zeeb, Chairman SIX Digital Exchange and Member Executive Board, SIX, ‘Coupled with our recent CBDC announcement with the SNB and BIS, this is potentially one of the most significant shifts in the digital finance space right now. Custodigit is a functioning operator for digital asset servicing – not just an idea to be realised. Coupled with our very productive relationship with Swisscom and Sygnum Bank – it is clear that we have the perfect balance of elements to allow clients to access the digital markets to meet their needs. Today, and for the future. ’
Tim Grant, Head SIX Digital Exchange, ‘Swisscom is a powerhouse and trusted infrastructure provider and Sygnum Bank has emerged a global leader in the regulated digital asset banking space. Adding the significant experience and advances that SIX has developed through SIX Digital Exchange and building on the great work achieved by Custodigit to date, will allow this partnership to deliver a truly differentiated institutional offering to banks and their customers in Switzerland and around the world.”
Peter Hofmann, CEO, Custodigit commented, ‘This partnership with SIX offers us the ability and conviction to strengthen and globalize our offering. It enables us to bring more value to what is clearly going to be the future of capital markets.’
Johannes Höhener, Head FinTech of Swisscom explains: 'Digital assets will fundamentally change the financial industry. By combining the strengths of Switzerland's leading financial infrastructure providers, we are enabling banks - in Switzerland and beyond - to quickly enter a new financial services era. A historic opportunity.'
Fabian Dori, Sygnum Group CEO a.i. said, ‘Together with SIX and the existing partners, we look forward to empowering even more banks to offer digital asset services, driving more innovation and positive change for the industry and, most importantly, value for our clients.’
Go to the Institutional Digital Asset Gateway for more information.
Please do not hesitate to contact Jürg Schneider.