The digital asset ecosystem in Switzerland is making rapid progress: Major players from different industries are now linking up to develop and launch infrastructures that will allow the trading of digital assets in real time.
The Swiss ecosystem for digital asset is undergoing a major development and big players including Swisscom, Sygnum Bank and SIX have agreed to join forces, according to a statement released on Wednesday.
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Under the agreement, SIX, the stock exchange operator, and Sygnum Bank are taking a stake each in Daura, a platform for a digital share register and the issue of security tokens. This cooperation will strengthen the establishment of consistent technical standards and workflows in the Swiss ecosystem for digital assets. Deutsche Boerse will now contribute its expertise, with which it has so far supported the development of the Swiss ecosystem, to projects in Germany and the EU27.
The move follows months of intensive work to build the ecosystem for digital assets, with significant progress made on several fronts. Sygnum became the first digital asset bank to start operating in September and Swisscom and its partners in November succeeded in processing the first legally binding securities transaction using tokens. The technical basis was developed by Swisscom with Daura, Custodigit and MME.
Swiss Digital Asset Standard
SIX meanwhile is currently developing a fully integrated financial market infrastructure for digital assets, the SIX Digital Exchange (SDX). It will offer companies the opportunity to issue digital security tokes, allow trading, settlement and custody of the digital assets in real time.
«With the investment by SIX and Sygnum Bank in Daura and future joint development work, we are standardizing the tokenization of Swiss assets,» said Johannes Hoehener, chairman of Daura and head of fintech at Swisscom.
