SDX Web3 launches Institutional Custody Service for Crypto Assets
SDX Web3, the newly launched business unit from SIX Digital Exchange, is now live with its Institutional Custody Service for Crypto Assets. The service is designed for institutional clients that want to scale their Crypto Asset business leveraging best-in-class back-end services and capabilities. It allows institutions to safely and cost-effectively store and transfer Crypto Assets without having to deal with the related operational and technical complexities. By using a trusted infrastructure provider like SIX, our clients can focus on what they do best – servicing and anticipating the needs of their clients.
Swiss-based and underpinned with SIX Group’s high operational and security standards, this service represents a milestone in institutional Web3 infrastructure. As SIX is a trusted Financial Market Infrastructure provider, SDX Web3 can provide the highest quality of services for loss and theft prevention and is fully compliant regarding AML and sanction processes. All internal SDX Web3 processes are audited and proactively manage any associated risks.
The SDX Web3 Custody service includes key storage, transfer execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management. Initially the service comprises two key cryptocurrencies, BTC and ETH, and based on client demand, will plan to expand into further protocols and other crypto tokens such as stable coins, asset and DEFI tokens.
According to Stephan Kunz, Head of SDX Web3, “We are excited to offer institutions a second market infrastructure grade service after launching non-custodial staking earlier this year. Having laid the foundation, we can now further build out our service offering in the coming months.”
For more information contact our SDX Web3 team
Andrew Wishart & Pascal Wyser
web3 @ sdx.com ¦ +41 (0) 58 508 30 40
SDX is licensed by Switzerland’s financial market regulator, FINMA, to operate an Exchange and a Central Securities Depository (CSD). SDX offers issuance, listing, trading, settlement, servicing, and custody of digital securities.
SDX is committed to working with partners, members, and clients to promote and build a new market structure for digital assets globally.
About SDX Web3 Services
SDX Web3 is a newly founded business line focusing on supporting our clients’ Web3 activities. As part of SIX, SDX Web3 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. web3.sdx.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. six-group.com