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Deutsche Börse Group Partners with Swiss and Singapore-based Firms to Form a Digital Asset Ecosystem

5 years ago

The trio of German-based firm, Swiss ICT firm and Swiss and Singapore-based crypto firm are going to form an alliance to build an ecosystem for crypto assets. The alliance will concentrate on forming and developing an adaptable stock market infrastructure for digital assets that is trustable and supervised.

Deutsche Borse Group is a German firm which provides market infrastructure globally and also operates the stock market. In order to construct tractable stock exchange market infrastructure for crypto assets, Deutsche Borse Group has got into planned partnership with a Swiss Information and Communication Technology firm known as Swisscom and a Swiss and Singapore-based cryptocurrency firm, Sygnum.

This latest initiative was announced on 11th March when it was published in a combined press release. As per declared by the partnered firms, the ecosystem “has the potential to reshape global financial markets” because the main aim of this lead is focusing on designing an ecosystem based on distributed ledger technology which will support the rising tokenized economy.

Under regulatory compliance environs a DLT that is resistant, the key elements will consist of liquidity accessing, issuing, banking services and custody to provide a solution. A scientific solution will be provided by Custodigit to get the custody of crypto assets for financial institutions that offer regulated services. The Deutsche Borse is going invest in Custodigit AG, and Swisscom and Sygnum are going to be venturing jointly that was established in 2018 for this strategic alliance as per formal release of this news.

Along with above mentioned key elements, they will be offering brokerage and asset management since a Swiss banking and securities dealer license has been obtained by Sygnum from FINMA which is a Swiss regulator. On the other hand, a DLT infrastructure that is scalable is provided by Swisscom to this initiative, and this will meet all the requirements with respect to the security of financial institutions.

Sygnum and Deutsche Borse will hold shares of dura AG, and it will develop an exchange that is DLT-based and will be authorizing firms that have not been listed to have access to the capital markets by issuing, securely transferring and registering Swiss SME-shares. A place to trade and list the digital assets on the Swiss market is a concept that is being established by Sygnum and Deutsche Borse at present.