Leading stock exchange Germany Deutsche Börse announced a strategic partnership with state-run telecommunications company in Switzerland, Swisscom and the Swiss-Singapore FINTECH company Sygnum, whose main purpose is the creation of regulated infrastructure for digital assets.
As stated in a joint press release, the new initiative is aimed at creating technology-based distributed registry ecosystem tokenserver economy, which, in the opinion of the partners, “has the potential to transform global financial markets.”
In particular, the planned release of a digital asset and creating solutions for their storage, and also providing market participants access to liquidity and banking services.
The report States that Sygnum received a license from the Swiss Agency for supervising financial markets (FINMA), which will allow it to operate in the banking sector and the securities market. In particular, the company will be able to provide services such as accepting deposits ohranenie assets, lending, issue of capital through tokenization, brokerage and asset management.
Swisscom role will be to ensure the project scalable DLT-private infrastructure development, comply with safety requirements applicable to financial institutions.
Deutsche Börse in turn receives a share in the company Custodigit AG, which is based Swisscom and Sygnum will develop focused on institutional clients solutions for the storage of digital assets.
Additionally, Deutsche Börse and Sygnum intend to invest in blockchain platform daura AG, support issue, transfer and registration of shares of small and medium enterprises in Switzerland. This will allow companies not listed on stock exchanges to access capital markets.
As expected, the first services in the new ecosystem will be launched this year after receipt of the approval from the regulator.
Earlier this year it was reported that the Deutsche Börse has made “significant progress” in developing their own blockchain-based platform for securities, which is created together with the liquidity provider from Luxembourg HQLAx.