SIX Digital Exchange (SDX) recently confirmed that its Web3 Unit, SDX Web3 Services, has developed a strategic collaboration with Fireblocks, one of the fastest-growing digital asset and crypto technology platforms, to assist regulated intermediaries and institutional investors.
The offering, which is expected to go live in H2 2022, will facilitate users through institutional-grade infrastructure services. In an official press release, SIX Digital Exchange noted that the offering is intended for institutional clients like financial firms, corporations and banks in Switzerland and across the European region.
“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 to build an institutional-grade secure digital asset custody service for our clients,” said David Newns, the Head of SDX.
Last year, SIX Digital Exchange received regulatory approval from FINMA. Since then, the exchange developed several key partnerships including its recent collaboration with Daura.
Institutional Participation
Despite the latest dip in the crypto market, institutional adoption of digital assets across the world remained unaffected. Michael Shaulov, the Co-Founder & CEO of Fireblocks, believes that technology-driven digital asset products will accelerate the adoption of blockchain and crypto across the institutional space.
“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 seamless access to Web3, which further supports our goal of global Web3 adoption,” Shaulov said.
