SBI Digital Asset Holdings, SIX Exchange Announce Joint Venture in Singapore

  • The new joint venture aims to establish an institutional corridor between Europe and Asia.
  • The platform will allow issuing, listing, and trading of digital assets, as well as provide other crypto-related services such as custody.

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Tokyo-based financial services company, SBI Holdings, and Switzerland’s’ principal stock exchange, SIX Swiss Exchangeannounced plans for a joint venture this Tuesday during the Singapore Fintech Festival.

The platform is set to launch in 2022, right after Singapore’s primary financial regulator — the Monetary Authority of Singapore — gives the green light.

The new joint venture will offer a wide gamma of digital asset-related services, utilizing technology from both founding companies. These services include issuing, listing, trading, and custody of cryptocurrency. The new platform will also provide Central Securities Depository (CSD) infrastructure and regulated digital asset securities.

Both enterprises are involved in the digital asset market through subsidiaries — SIX Digital Exchange and SBI Digital Asset Holdings — and have operated extensive networks in Switzerland and Europe (SIX) and Asia (SBI).

According to SBI Group’s CEO, Yoshitaka Kitao, the new project will form an impressive institutional corridor between Europe and Asia. Kitao added that the new venture is “an important step in building the necessary global infrastructure for widespread institutional adoption of digital assets”.

Thomas Zeeb, SIX Digital Exchange chairman, feels that this partnership comes quite naturally because of SBI’s strong position in Asia and its history of developing institutional digital asset markets.

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