Deutsche Börse Group, Swisscom and Sygnum have partnered to build a regulatory compliant programme for digital assets.
The system is based on distributed ledger technology (DLT) and is developed and operated by Swisscom.
The services of the system, which include custody, deposits, credit and lending, capital issuance via tokenisation, brokerage and asset management, will be provided by Sygnum.
Deutsche Börse and Sygnum are continuing to work on a listing and trading venue for digital assets in the Swiss market—another element of the new programme.
The partnership includes an investment by Deutsche Börse in Custodigit AG. Deutsche Börse and Sygnum will also become shareholders of daura AG.
The first products and services provided by the new programme are expected to be launched in 2019.
Jens Hachmeister, managing director of distributed ledger technology for crypto assets and new market structure at Deutsche Börse, commented: “With Swisscom and Sygnum we have two highly recognised partners on board and we are looking forward to bundling forces.”
He added: “Continuing our investments in new technologies and driving the development around DLT forward is a key focus of Deutsche Börse Group. Switzerland, known to be a nucleus for financial markets innovation, is the ideal starting point for Deutsche Börse to drive this evolution forward.”
Roger Wüthrich-Hasenböhler, CDO of Swisscom, explained: "The collaboration with Deutsche Börse and Sygnum is the perfect step for the development of a comprehensive digital asset ecosystem.”
He said: “The partnership combines unique know-how in the fields of digital assets, banking, compliance and technology. We are in the perfect condition to create solutions for regulated financial service providers that are based on security, reliability and compliance, and enable them to enter a new financial services era."
Mathias Imbach, founding partner and CEO for Singapore at Sygnum, remarked: “We are thrilled to embark on this journey with two such strong partners to unlock the potential of the digital asset universe for institutional market participants—and ultimately spearhead digital assets’ transition from mainstream awareness to mainstream adoption.”
He added: “The establishment of a trusted digital asset ecosystem is also another strong example of Switzerland and Singapore’s continued leading role in global financial markets innovation.”
