• Sun, 19 May 2019, 09:25 PM
  • All times are UTC
  • Edition:
Link copied

Deutsche Börse, Swisscom and Sygnum partner to build DLT-based digital asset ecosystem

Photo: Bloomberg

Tue, 12 Mar 2019, 05:26 am UTC

German stock exchange operator Deutsche Börse Group has partnered with Swisscom, a Swiss Information and Communication Technology (ICT) company, and Sygnum, a Swiss and Singapore-based fintech company, to jointly build a new digital asset ecosystem.

Under the partnership, the entities will work towards building and growing a trusted and regulatory compliant financial market infrastructure for digital assets.

The core elements of the solution will include issuance, custody, access to liquidity, and banking services – all leveraging Distributed-Ledger-Technology (DLT) in a regulatory compliant environment.

According to the official release, the strategic partnership includes an investment by Deutsche Börse in Custodigit AG, a joint venture by Swisscom and Sygnum founded in 2018. Custodigit AG provides a technical solution for the custody of digital assets for regulated financial services institutions.

In addition, Deutsche Börse and Sygnum will become shareholders of daura AG, which has developed a DLT-based platform that issues, securely transfers and registers Swiss SME-shares, enabling non-listed companies to access the capital markets.

Furthermore, Deutsche Börse and Sygnum are currently conceptualizing the establishment of a listing and trading venue for digital assets in the Swiss market.

“This cooperation, the complementary infrastructure and expertise of the parties involved, is a great opportunity for creating a comprehensive and market leading ecosystem for digital assets,” Jens Hachmeister, Managing Director, DLT, Crypto Assets and New Market Structure, Deutsche Börse, said.

Sygnum is currently in the process of obtaining a Swiss banking and securities dealer license from the Swiss Financial Market Supervisory Authority (FINMA). After it receives the license, it will provide comprehensive banking services such as custody, deposits, credit & lending, capital issuance via tokenization, brokerage and asset management within the digital asset ecosystem.

The first products and services provided by the new digital asset ecosystem are expected to be launched in the course of 2019. The partners are currently awaiting merger control clearance.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
  • Bitcoin (BTC) $8,052.47 (+10.54%)
  • Ethereum (ETH) $259.46 (+9.87%)
  • XRP (XRP) $0.410100 (+9.74%)
  • Bitcoin Cash (BCH) $422.81 (+16.87%)
  • Litecoin (LTC) $95.25 (+9.36%)
  • Bitcoin (BTC) $8,052.47 (+10.54%)
May 17, 2019 (Friday)
Crypto Technicals: XMR/USD holds 21-EMA support, bearish divergence on RSI and Stochs weighs
Crypto Technicals: ETH/USD hovers around 5-DMA, overbought conditions may lead to further unwinding
Banking giants to invest $50M in blockchain-based settlement project: Report
Crypto Technicals: BTC/USD extends correction, eyes 5700 on break below 21-EMA support
Crypto exchange Coinbase in talks to acquire Xapo for $50M: Report
Blockchain startup Ripio launches crypto-fiat exchange and OTC desk
Sirin Labs allows FINNEY users to purchase crypto with credit cards via Simplex integration
Crypto-backed Brave Browser seeks over $30M in funding round: Report
Cryptocurrency exchange Bitfinex granted motion to modify injunction
Poloniex to stop offering 9 crypto assets in U.S. over regulatory uncertainty
ECB invites paper submissions on crypto, stablecoin, and DLT for payments conference
Louis Vuitton owner LVMH unveils blockchain provenance platform ‘AURA’ for luxury industry
Industry groups, fintech want Reserve Bank of India to consider including cryptocurrency in sandbox
HKMA, BoT enter fintech collaboration, hint at joint central bank digital currency project
French Producer Dominique Boutonnat recommends blockchain technology in the film industry
Quoine-owned Liquid ties up with Virtual Currency Partners to enter US market
One-third of the world’s Ether is owned by only 376 people: Chainalysis
May 16, 2019 (Thursday)
Crypto Technicals: Bitcoin Gold consolidates below 61.8% Fib, 'Golden Cross' keeps bias bullish
Crypto exchange Seed CX adds support for PAX, USD Coin and TrueUSD
Crypto Technicals: ETH/USD edges lower from 8-month highs, potential 'Shooting Star' keeps scope for weakness
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.