Six, Custodigit to launch institutional digital asset gateway

Suisse
On the 12/07/20 at 11:25AM

by

Adrien Paredes-Vanheule

An initial joint service will be released in Q1 2021.

The Swiss Stock Exchange (SIX) has purchased a stake in Custodigit, a joint venture created in 2018 by Swiss telecom and IT firm Swisscom and local digital bank Sygnum. The transaction, which is subject to regulatory approvals, aims at further providing Swiss banks' clients with access to crypto-currencies and digital assets through an institutional digital asset gateway. Six said an initial joint service, relying on Custodigit existing platform, will be available in Q1 2021 with plans to add significant capabilities throughout the year. 

Commenting on the partnership, Thomas Zeeb, chairman of SIX Digital Exchange and member of SIX's executive board said: “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.”

Custodigit's CEO Peter Hofmann said the partnership will enable the tech joint-venture to strengthen and globalise its offering.