SIX Digital Exchange (SDX) has announced transactions
exceeding 1 billion Swiss Francs (CHF) in digital asset issuance. This was
marked by the settlement of a CHF 200 million bond by the World Bank, which was
priced on May 15.
The collaboration between the World Bank, Swiss National
Bank, and SIX Digital Exchange highlights a collective effort to advance
digitalization within capital markets.
Leading in wCBDC Settlements
The participation of key issuers, such as The World Bank,
UBS AG, various Swiss municipalities, and SIX Group AG, has played a pivotal
role in propelling the Swiss Financial Centre’s journey toward digital
transformation.
Notably, several issuances have been part of the Swiss
National Bank’s Project Helvetia Phase III, enabling settlements in Swiss Franc
wholesale Central Bank Digital Currency (wCBDC). Switzerland stands out as the
singular major financial centre facilitating securities transactions settlement
in wCBDC.
David Newns, Head of SIX Digital Exchange, said: “Our
objective has always been to seamlessly connect digital and traditional
infrastructure, mitigating market fragmentation and facilitating the efficient
transition to digital assets. The digital bonds issued to date remain open to
the entire investor base as they are listed, traded and settled both on a
regulated digital exchange and traditional market infrastructures.”
Adopting DTI Standard for the Digital Asset Market
The financial industry increasingly adopts the Digital Token
Identifier (DTI) ISO standard 24165, a unique identifier for digital assets. SDX
has become the first private Distributed Ledger Technology infrastructure
to adopt the standard developed by the Digital Token Identifier Foundation, as
reported by Finance Magnates.
DTIs pinpoint digital ledgers, tokens, and cryptocurrencies,
aiding regulators in supervising exchanges, ensuring compliance with anti-money
laundering measures, and monitoring risks.
The European Securities and Markets Authority
promotes DTI use within the EU’s DLT Pilot initiative. SDX’s decision to
implement DTI across its products marks a milestone. SDX, a part of SIX Swiss
Exchange, concluded 2022 with a substantial net profit despite market
challenges.
This article was written by Tareq Sikder at www.financemagnates.com.
