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SDX and SBI team up to plot digital assets exchange in Singapore

SDX and SBI team up to plot digital assets exchange in Singapore

SIX Digital Exchange, the tokenisation arm of Swiss financial services firm SIX Group, has announced a collaboration with Japan’s SBI Digital Asset Holdings to develop a digital assets exchange in Singapore.

The pair hope to launch the exchange by 2022, subject to regulatory approval from the Monetary Authority of Singapore.

Tim Grant, head of SDX, said the partnership builds on the firm’s Zurich-based exchange and will allow the business “to provide services into the Asian market as well as open up the trading channel between Europe and APAC.”

The two firms hope to roll out issuing, listing, trading, CSD infrastructure, and digital asset and cryptocurrency custody services for regulated institutional clients in the region. 

SBI Digital Asset Holdings, SDX’s partner in the venture, is a subsidiary of Japanese financial services giant SBI Group.

SDX, which has been long in the making, has had a busy week of announcements.

The company announced plans to give banks full access to digital assets through a partnership with Swiss custody firm Custodigit on December 7, just days after revealing the outcome of a feasibility study with the Swiss National Bank on settling digital assets on a blockchain using central bank money.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Ryan Weeks

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