New Compliant Crypto Asset Financial Market System Setup By Swisscom, Sygnum And Deutsche Borse

Deutsche Borse, Swisscom And Sygnum Start Partnership To Create Digital Asset Ecosystem

The global market infrastructure provider Deutsche Borse Group has recently united with Swisscom, a Swiss state-owned telecom and with Sygnum, a Singapore-based fintech company. These three companies have united in order to start up a strategic partnership that has the goal of creating a compliant financial market infrastructure which will be used for digital assets.

According to the reports sent out to the media, the trio will focus on the creation of an ecosystem which will use the blockchain technology, also known as the distributed ledger technology (DLT). This ecosystem will be used as a way to support a new token that will be created by the company.

The three companies have affirmed that this new token will have the “potential to reshape global financial markets”. They affirm that the new ecosystem will be completely compliant for the issuance of digital assets. The participants of this market will also have privileged access to features like banking services and extra liquidity.

Also, the ecosystem has already achieved a license from the Swiss regulator, FINMA, which is set to make business considerably easier and will provide several important banking services for the companies which are related to the project.

Swisscom will provide a scalable blockchain structure for the companies and will also be responsible for the security requirements in order to protect the customers. Deutsche Borse and Sygnum will make investments and handle most of the banking parts.

The partnership will also involve a fourth company, Custodigit AG, which was created by Sygnum and Swisscom. Deutsche Borse will become a shareholder of this company, which will develop digital asset custodial solutions. Deutsche Borse and Sygnum will also become shareholders of Daura AG, which will be used for the issuance and registration of shares in the platform.

The managing director of DLT at Deutsche Borse, Jens Hachmeister, has affirmed that the company will continue the investments in order to push the goals of the company forward. As the company is known for its innovation, its goal is to use the blockchain to drive evolution forward.

At the moment, the companies are creating the conceptual framework which will guide the development of the company and the creation of the new compliant system, which will be focused on the Swiss market. However, only a proof of concept has been made so far, which means that the companies are still quite far from reaching their objectives.

The companies are currently involved in several other projects at the time, which including Deutsche Bank making DLT transactions with Commerzbank, Swisscom creating new blockchain products and more.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide