SIX Digital Exchange announces a collaboration with Fireblocks to provide institutional grade infrastructure services for regulated intermediaries and institutional investors.
SIX Digital Exchange announces a collaboration with Fireblocks to provide institutional-grade infrastructure services for regulated intermediaries and institutional investors.
SIX Digital Exchange’s Web3 dedicated unit, SDX Web3 Services, announces a strategic collaboration with Fireblocks, the award-winning digital asset and crypto technology platform, to provide financial institutions and institutional investors with a set of infrastructure services for the distributed economy.
Initially, this partnership will focus on delivering an institutional custody solution for digital assets, paving the way for a seamless transition for financial institutions into the Web3 economy. SDX Web3 Services will integrate Fireblocks’ MPC-based solution, designed to support institutions with a multi-layer security platform to safely store and transfer digital assets without jeopardizing operational efficiency, into its system. Starting with key cryptocurrencies and expanding into other classes of tokens, these best-in-class services will include key storage, transaction execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.
Fireblocks’ network of 1,300 members, proven technology approach and industry-leading, battle-tested security systems will differentiate SDX Web3 Services’ client offerings apart from its competitors. The platform integration will consist of the highest institutional-grade standards and remains in line with SIX Group established trusted position and standards in the market.
This offering is intended for Swiss and European institutional clients such as banks, corporates, and other financial institutions. The go-live is planned for H2 2022.
“At SDX we believe that digital assets and their underlying blockchain technology offer clear benefits that traditional infrastructure cannot provide. SDX is supporting institutional adoption through the launch of the SDX Exchange and CSD in October last year, and with the launch of SDX Web3 Services last month. SDX Web3 Services is committed to delivering a suite of future-proof solutions for institutional players as they embrace Web3. We are excited to embark on this journey together with Fireblocks, the leading digital asset custody, transfer and settlement platform, to build an institutional-grade secure digital asset custody service for our clients,” said David Newns, Head SDX.
This integration is just the beginning of Fireblocks and SDX’s partnership. SDX Web3 Services is already working on integrating SDX non-custodial staking access into Fireblocks’ solution.
“We are delighted to partner with the SIX Digital Exchange and SDX Web3 Services teams to provide their institutional investors and regulated intermediaries with the industry’s most advanced and secure institutional-grade platform. With our technology, SDX’s customers are able to experience a seamless access into Web3, which further supports our goal of global Web3 adoption,” said Michael Shaulov, Co-founder & CEO of Fireblocks.
About SDX Web3 Services
SDX Web3 Services is a newly founded business line focusing on supporting our clients’ Web3 activities. As part of SIX, SDX Web3 Services is subject to the Group’s high quality and security standards in providing institutional grade infrastructure services for which SIX and SDX are well known. https://web3.sdx.com
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 1,300 financial institutions, has secured the transfer of over $3 trillion in digital assets and has a unique insurance policy that covers assets in storage & transit. For more information, please visit https://fireblocks.com.
SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for Post-Trade Services, Banking Services and Financial Information with the aim of raising efficiency, quality and innovative capacity across the entire value chain of the Swiss and Spanish financial centers. The company is owned by its users (120 banks). With a workforce of 3,685 employees and a presence in 20 countries, it generated operating income of CHF 1.5 billion and Group net profit of CHF 73.5 million in 2021. https://six-group.com