SIX Lining Up Investors for Its Blockchain-Based Exchange

Swiss Digital Exchange (SDX), the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based platform of Swiss Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term SIX, is lining up companies for a consortium to invest in the upcoming initial digital offering (IDO) of the platform.

Speaking to Coindesk, Thomas Kindle, the newly appointed chief of SDX, revealed that the IDO of the platform is expected to hit the market in the middle of next year. Though similar to an initial public offering (IPO), the shares of the company will be listed in the form of security tokens.

Though he did now provide any target figures for securing the new capital, Kindle stated that SIX would remain the majority shareholder of the platform.

“We are not just looking to Abu Dhabi sovereign wealth fund to give us money. We are looking at our clients to invest, but at the same time commit business and help us validate what we built and get it off the ground. The key focus is not money; it’s money linked to business and validation of the business model,” Kindle told the publication.

The identity of the members of the consortium is also unknown; however, they include banks, buy-side firms, and market infrastructure providers.

“What we foresee are two levels. On one large level … we are looking at, say, four or five-ish large investors. Then potentially ten-ish smaller investors,” he added.

Delay in the launch of its services

Announced last year, SDX is based on R3’s Corda platform. The launch of the platform was recently pushed to the fourth quarter of 2020 from the second half of this year. The exchange, however, launched a prototype to test the features of the blockchain-based platform.

“We are looking at a two-phased approach,” Kindle added. “As a first step, we are looking at an international consortium of investors. The second step would be our own issuance.”