SDX Web3 Services, SIX Digital Exchange’s Web3 unit, has formed a partnership with Fireblocks, the digital asset and crypto technology platform, to provide financial institutions and institutional investors with a set of infrastructure services for the distributed economy.
Initially, this partnership will focus on delivering an institutional custody solution for digital assets, providing a transition for financial institutions into the Web3 economy. SDX Web3 Services will integrate Fireblocks’ MPC-based solution, designed to support institutions with a multi-layer security platform to safely store and transfer digital assets without impairing operational efficiency, into its system. Starting with key cryptocurrencies and expanding into other classes of tokens, these services will include key storage, transaction execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.
This offering is intended for Swiss and European institutional clients including banks, corporates, and other financial institutions. The live date is planned for H2 2022.