SDX collaborates with digital asset and crypto tech platform
08 June 2022 Switzerland
Image: Maksym Yemelyanov/adobe.stock.com
SIX Digital Exchange鈥檚 unit, SDX Web3 Services, has entered into a strategic partnership with digital asset and crypto technology platform Fireblocks to provide institutional investors and regulated intermediates with infrastructure services for the distributed economy.
SDX Web3 Services is a newly-founded business line by the digital exchange, focused on supporting clients鈥� Web3 activities.
The collaboration will focus on administering an institutional custody solution for digital assets to allow Swiss and European institutional clients to seamlessly transition into the Web3 economy, with a go-live planned for the second half of 2022.
This will be facilitated by integrating Fireblocks鈥� multi-party computation (MPC)-based solution into SDX Web3 Services. The solution provides a multi-layer security platform on which to store and transfer digital assets while ensuring operational efficiency.
Services in the offering include key storage, automated reporting, blockchain management, and transaction execution and monitoring with bank-grade compliance standards.
Commenting on the partnership, David Newns, head of SDX, explains: 鈥淎t SDX we believe that digital assets and their underlying blockchain technology offer clear benefits that traditional infrastructure cannot provide.
鈥淪DX Web3 Services is committed to delivering a suite of future-proof solutions for institutional players as they embrace Web3. We are excited to embark on this journey together with Fireblocks, the leading digital asset custody, transfer and settlement platform, to build an institutional-grade secure digital asset custody service for our clients.鈥�
Michael Shaulov, co-founder and CEO of Fireblocks, adds: 鈥淲e are delighted to partner with the SIX Digital Exchange and SDX Web3 Services teams to provide their institutional investors and regulated intermediaries with the industry鈥檚 most advanced and secure institutional-grade platform. With our technology, SDX鈥檚 customers are able to experience a seamless access into Web3, which further supports our goal of global Web3 adoption.鈥�
SDX Web3 Services is a newly-founded business line by the digital exchange, focused on supporting clients鈥� Web3 activities.
The collaboration will focus on administering an institutional custody solution for digital assets to allow Swiss and European institutional clients to seamlessly transition into the Web3 economy, with a go-live planned for the second half of 2022.
This will be facilitated by integrating Fireblocks鈥� multi-party computation (MPC)-based solution into SDX Web3 Services. The solution provides a multi-layer security platform on which to store and transfer digital assets while ensuring operational efficiency.
Services in the offering include key storage, automated reporting, blockchain management, and transaction execution and monitoring with bank-grade compliance standards.
Commenting on the partnership, David Newns, head of SDX, explains: 鈥淎t SDX we believe that digital assets and their underlying blockchain technology offer clear benefits that traditional infrastructure cannot provide.
鈥淪DX Web3 Services is committed to delivering a suite of future-proof solutions for institutional players as they embrace Web3. We are excited to embark on this journey together with Fireblocks, the leading digital asset custody, transfer and settlement platform, to build an institutional-grade secure digital asset custody service for our clients.鈥�
Michael Shaulov, co-founder and CEO of Fireblocks, adds: 鈥淲e are delighted to partner with the SIX Digital Exchange and SDX Web3 Services teams to provide their institutional investors and regulated intermediaries with the industry鈥檚 most advanced and secure institutional-grade platform. With our technology, SDX鈥檚 customers are able to experience a seamless access into Web3, which further supports our goal of global Web3 adoption.鈥�
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