PassOn Blockchain Crypto Asset Inheritance Will See SIX Digital Exchange (SDX) Integration
Investors and holders of cryptocurrencies and other digital assets are getting more and more sensitized of the best way to keep your assets safe including owning a hardware wallet, securing your public/private keys etc. However, most of the current cryptocurrency holders have yet to consider what will happen to their holdings in case of incapacitation or death. Do you have a digital asset will for your possession?
This is what the latest partnership with PassOn AG, a Swiss startup for asset transmission and storage on blockchain and SIX Swiss Exchange, owner of the Swiss stock exchange is about. The latter will purchase a minority stake in the former in a move that is set to create a strong basis for developing infrastructure aimed at bringing inheritance on blockchain.
Stephan Wippermann, CEO of PassOn AG, explained the challenges facing the future of digital asset inheritance regarding the technology and laws. The key focus for PassOn will be to make the process of inheritance of the complex and extremely secure digital assets on the blockchain. The partnership with SIX will offer PassOn unrivalled experience as it is working with both the government and regulators hence making the PassOn project more credible. He further said,
“Just as the internet has transformed the way we access information, blockchains will transform the way we account for, store and exchange information and ultimately how digital assets can be inherited. The road ahead is paved with legal and technological challenges.”
With such a strong partner at its side, managing a will and passing on the intangible and cryptographically secure digital assets will be simplified with PassOn AG’s estate planning solution and inheritance mechanism.
SIX to integrate the PassOn token on SIX Digital Exchange (SDX)
SIX announced recently its plans to launch the SIX Digital Exchange (SDX), a fully integrated trading, settlement and custody infrastructure for digital assets. PassOn token will be integrated on the platform to start trading and to provide a cryptographic secure storage wallet for the PassOn token.
In more developments, PassOn appointed one of SIX’s executives, Valerio Roncone, Head of Product Management & Business Development at SIX, to the board of directors. Speaking on joining the PassOn AG team, Valerio was ready to move forward the plan of digital asset inheritance in a clean, transparent and legally binding way between the parties involved. Further, Valerio said,
“The challenge in the digital asset space is to ensure clean, transparent and legally binding title to the assets between parties. This requirement is identical for counterparties who are exchanging assets whether they are living or deceased. The Distributed Ledger-based solution developed by PassOn AG can help enable such asset transfer seamlessly.”