SIX Group AG Merges Digital Asset Division
SIX Group AG, the operator of Switzerland’s stock exchange, has revealed plans to merge its digital asset division, known as SIX Digital Exchange (SDX), into its core exchange and post-trade service operations. This decision marks the dissolution of SDX as a standalone brand.
New Structure and Responsibilities
In this new structure, the trading activities of SDX will now be overseen by the primary exchange of SIX, with settlement and custody responsibilities shifting to SIX Securities Services.
Goals of the Consolidation
The consolidation aims to provide a more streamlined experience for banks and asset management firms seeking to harness blockchain for trading, custody, and token issuance. By integrating these digital capabilities, SIX intends to foster the expansion of digital asset ventures and facilitate a shift toward a financial landscape increasingly defined by tokenization.
Commitment to Innovation
Moreover, SIX Group will maintain its partnerships with the Swiss National Bank (SNB) and various stakeholders to support ongoing initiatives, particularly those focused on the development of wholesale central bank digital currencies (CBDCs). This integrated approach signals SIX’s commitment to advancing its digital asset strategy while aligning with broader financial innovations.
