SIX joins forces with Swisscom & Sygnum joint-venture Custodigit to build Digital Asset Gateway.
SIX joins forces with Swisscom & Sygnum joint-venture Custodigit to build Institutional Digital Asset Gateway.
ZURICH, 7 December 2020 - The Swiss Stock Exchange today announced an investment in Custodigit, the joint venture created by Swisscom and Sygnum in 2018. With this agreement, SIX Digital Exchange, Swisscom and Sygnum Bank enable Swiss banks to offer access to digital assets for their customers through a unique Institutional Digital Asset Gateway.
The Swiss Stock Exchange today agreed to take a major stake in Custodigit and to partner with Swisscom, Switzerland’s leading telecoms & IT company, and Sygnum, the first digital asset bank to be formally recognized by Switzerland’s regulator, FINMA.
Subject to the appropriate regulatory approvals, SIX Digital Exchange and Custodigit will provide a unique Institutional Digital Asset Gateway. The gateway will support the complete investment value-chain from trading, to smart order routing, to settlement, to custody as well as access to secondary markets. This partnership gives banks – and their customers – trusted, safe, secure, compliant yet seamless access to crypto-currencies and digital assets. Depending on a bank’s strategic objectives, it has the option to leverage Custodigit’s offering either through a direct platform integration solution, or a managed sub-custody setup as already provided by Sygnum.
An initial joint service, based on the already available Custodigit platform, will be released in Q1 2021 with plans to add significant capabilities throughout the year. The Institutional Digital Asset Gateway will enable banks to develop new financial services and yet to be imagined products around cryptocurrencies and digital assets for their customers. This partnership will also build upon the recent SIX investment in Omniex.
According to Thomas Zeeb, Chairman SIX Digital Exchange and Member Executive Board, SIX, ''Coupled with our recent CBDC announcement with the SNB and BIS, this is potentially one of the most significant shifts in the digital finance space right now. Custodigit is a functioning operator for digital asset servicing – not just an idea to be realised. Coupled with our very productive relationship with Swisscom and Sygnum Bank – it is clear that we have the perfect balance of elements to allow clients to access the digital markets to meet their needs. Today, and for the future.''
Tim Grant, Head SIX Digital Exchange, ‘'Swisscom is a powerhouse and trusted infrastructure provider and Sygnum Bank has emerged a global leader in the regulated digital asset banking space. Adding the significant experience and advances that SIX has developed through SIX Digital Exchange and building on the great work achieved by Custodigit to date, will allow this partnership to deliver a truly differentiated institutional offering to banks and their customers in Switzerland and around the world.”
Peter Hofmann, CEO, Custodigit commented, ''This partnership with SIX offers us the ability and conviction to strengthen and globalize our offering. It enables us to bring more value to what is clearly going to be the future of capital markets.''
Johannes Höhener, Head FinTech of Swisscom explains: ''Digital assets will fundamentally change the financial industry. By combining the strengths of Switzerland's leading financial
infrastructure providers, we are enabling banks - in Switzerland and beyond - to quickly enter a new financial services era. A historic opportunity.''
Fabian Dori, Sygnum Group CEO a.i. said, ''Together with SIX and the existing partners, we look forward to empowering even more banks to offer digital asset services, driving more innovation and positive change for the industry and, most importantly, value for our clients.''
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers institutional and private qualified investors, corporates, banks and other financial institutions to invest in the digital asset economy with complete trust. Sygnum operates an independently controlled, scalable and future-proof regulated banking platform. Our interdisciplinary team of banking, investment and Distributed Ledger Technology (DLT) experts is shaping the development of a trusted digital asset ecosystem. The company is founded on Swiss and Singapore heritage, and operates globally. To learn more about Sygnum, please visit www.sygnum.com.
Sygnum Bank AG
This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.