The Swiss Digital Exchange (SDX), which is a part of the SIX Group, has recently started to organize the investors for its upcoming “Initial Digital Offering” (IDO). According to reports from Coindesk, the CEO of SDX Thomas Kindle affirmed that the IDO will happen in the middle of next year.
If you are wondering what is an IDO, you should know that it is pretty similar to an Initial Public Offering (IPO) but it distributes the shares of the companies as security tokens instead of equities. It’s actually like an Initial Coin Offering (ICO) in this regard, but much more regulated than most of the ICO's we saw during the crypto craze of 2017.
During the announcement, it was revealed that SIX will still remain with most of the shares. No targets were provided as to how to secure the capital. Another bit of information that was not revealed, is who will be the consortium of investors that will buy the tokens.
According to Kindle, the company is looking for clients willing to invest and to commit to the business in a way in which they will help the company to get off the ground and grow. He believes that money is not really the key point here, but how money is linked to the validation of a new business model instead.
SDX is based on the Corda platform, which was created by the R3 consortium. A prototype of the exchange was already launched, but the official launch is set to happen only in Q4 2020. Kindle affirmed that getting the investors’ backing is the first step and that the second is to issue the tokens and launch the platform.