SIX and SBI Digital Asset Holdings Announce Plans for Singapore-Based Joint Exchange Venture
SIX Digital Exchange (“SDX”) and SBI Digital Asset Holdings Co., Ltd., an SBI Group (“SBI”) (8473) company today announced their intentions to work towards a joint venture to drive institutional digital asset liquidity through a Singapore-based digital issuance platform, exchange and CSD venue that is set to go-live by 2022 subject to regulatory approvals from the Monetary Authority of Singapore.
The contemplated joint venture announced by SBI and SIX is set to directly target the growing demand for public and private institutional digital assets, including regulated digital asset securities and cryptocurrency assets. The venture will market directly to regulated institutional clients , utilizing technologies from both companies to provide institutional grade services including issuing, listing, trading, CSD infrastructure and custody of digital assets and cryptocurrencies. It will leverage the extensive networks of SIX Digital Exchange in Switzerland and Europe, and SBI in the Asian Marketplace, as well as their joint expertise in facilitating Institutional clients’ needs.