SBI Holdings and SIX will create a block-platform for institutions

The digital daughters of SIX Swiss Exchange, Switzerland’s largest stock exchange, and the Japanese financial conglomerate SBI Holdings have announced the launch of a block-platform in Singapore for institutional clients from Europe Bitcoin Formula review and Asia.

The initiative awaits approval from the local regulator. It is expected to happen no later than 2022.

The joint company SIX Digital Exchange (SDX) and SBI Digital Asset Holdings will offer issuing, listing, trading and central depository infrastructure for digital assets, cryptocurrency and regulated security-tokens.

„The platform will create a strong institutional corridor between Europe and Asia,“ said SBI Holdings CEO Yositaka Kitao.

„Focus on global liquidity. This is what institutional investors are interested in – trading from 9 to 16 in the ‚home‘ market and then moving on to the next and next,“ explained the advantages of SDX head Tim Grant.

In October, SBI Holdings became the owner of the TaoTao crypt currency exchange. It became a subsidiary of SBI Liquidity Market.

A partner of the conglomerate is the American start-up Ripple, with which they have been cooperating since 2016. In 2018 SBI Holdings launched a mobile payment application based on RippleNet.

SIX Swiss Exchange is known for its Bitcoin and other cryptocurrency listings as well as the development of the SDX block-platform for security-token.

It was previously known that SDX and the custodian firm Custodigit will launch the Institutional Digital Asset Gateway