SIX Crypto Division Launches Custody Solution Powered by Fireblocks

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SDX Web3, the new business unit of SIX Digital Exchange, is now live with its institutional custody service for crypto assets.

SIX Digital Exchange is a subsidiary of the world renowned SIX Group, based in Switzerland and regulated by FINMA.

The Institutional Custody Service for Crypto Assets is designed for institutional clients who want to scale their crypto asset business by leveraging best-in-class back-end services and capabilities.

Securely store and transfer crypto assets

The service enables institutions to securely and cost-effectively store and transfer crypto assets without having to deal with the associated operational and technical complexities.

SIX operates as the infrastructure provider for the service, ensuring high operational and security standards. Institutional Custody for Crypto Assets is a business unit that is protected by SDX Web3’s quality of service for loss and theft prevention and is fully compliant with regards to anti-money laundering processes. money and penalties. All internal processes are audited and proactively manage associated risks.

The SDX Web3 Custody service includes key storage, transfer execution and monitoring with bank-grade compliance standards, automated reporting and blockchain management. Initially, the service includes two key cryptocurrencies, BTC and ETH, and depending on customer demand, it plans to expand to other protocols and other crypto tokens such as stablecoins, assets and tokens. CHALLENGE.

Stephan Kunz, Head of SDX Web3, “We are excited to offer institutions a second-market infrastructure service following the launch of noncustodial staking earlier this year. Having laid the foundation, we can now further develop our offering. services in the months to come.

SDX Web3 Custody powered by Fireblocks

The new SDX Web3 Custody service follows a recent partnership with Fireblocks, which agreed to help SDX provide an institutional custody solution for digital assets by integrating Fireblocks’ MPC-based solution.

The partnership with Fireblocks gives SDX several essential features for institutional adoption, including key storage, transaction execution and monitoring with bank-grade compliance standards, automated reporting and blockchain management,

This offer is intended for Swiss and European institutional clients such as banks, companies and other financial institutions.

SDX launched its operation in November 2021 after being approved by FINMA for two licenses.

The blockchain architecture used by SDX is based on the authorized Corda architecture provided by R3 and an important point to note here is that it does not use any of the other private blockchains like Ethereum, Polygon, Solana and others.

SDX Web3 Services Launched Noncustodial Ethereum Staking

In August, SDX Web3 Services launched its non-custodial Ethereum staking service in a major milestone for the new SIX Digital Exchange business unit.

The non-custodial Ethereum staking service is suitable for institutional clients who need to scale their Ethereum staking capabilities and enables reliable and secure management of Ethereum validator nodes through a fully managed API-based infrastructure, the company announced.

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