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SIX Digital Exchange (SDX) platform has announced a strategic partnership with crypto-protector Fireblocks. #SDX & @FireblocksHQ will provide an enterprise storage solution for #digital assets paving the way
SIX Digital Exchange (SDX) platform has announced a strategic partnership with crypto-protector Fireblocks.
#SDX & @FireblocksHQ will provide an enterprise storage solution for #digital assets paving the way for a smooth transition for financial institutions #web3 economy! https://t.co/4xQ0omNlo0 pic.twitter.com/ILSznhIQpy
— SIX Digital Exchange (@SDX_global) July 5, 2022
According to a press release, the collaboration initially aims to provide “an enterprise solution for storing digital assets” in a distributed economy.
As part of the partnership, SDX Web3 Services, a special part of the platform, integrates storage technologies from multilateral computing (MPC) based Fireblocks into its system.
The offer is aimed at European corporate clients such as banks, companies and other financial institutions. The launch is scheduled for the second half of 2022.
SDX is owned by the operator of the Swiss stock exchange SWX (SIX Swiss Exchange) – SIX Group.
“We believe that digital assets and the underlying blockchain technology offer clear benefits that traditional infrastructure cannot. […] SDX Web3 Services aims to provide a range of forward-thinking solutions for enterprise gamers using Web3,” said David Newns, SDX CEO.
In the next phase, the partners plan to integrate non-custodial staking access into the SDX platform through a solution from Fireblocks.
Owned by a consortium of 120 banks, SIX Group generated revenue of CHF 1.5 billion (~$1.55 billion) with a net profit of CHF 73.5 million (~$75.73 million) in 2021. The company has 3,685 employees in 20 countries.
Fireblocks serves more than 1,300 financial institutions and has transferred more than $3 trillion in cryptocurrencies during its operation. In January, the custody services provider raised $550 million at a valuation of $8 billion.
Recall that in September 2021 SDX received a license from the Swiss Financial Market Supervisory Authority to operate as an exchange and digital depository.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
