Corda Enterprise, R3’s blockchain platform has been chosen by SIX to provide blockchain technology for its digital asset listing, trading, settlement and custody service, SIX Digital Exchange (SDX).
Corda Enterprise has been designed specifically for regulation compliance with requirements designed around the quality of service and the network infrastructure in which they operate.
Corda Enterprise is the commercial distribution of Corda.
R3’s members and investors include ABN AMRO, Barclays, BNP Paribas, Citi, Commerzbank, Credit Suisse, CS Affiliates, Deutsche Bank, HSBC, Natixis, RBC, Société Générale and UBS.
Sven Roth, a member of the management team at SDX, said “As a highly regulated and trusted financial market infrastructure provider, SIX must operate at the highest levels of security and stability. We felt Corda Enterprise was the best fit for the scale and breadth of service we envisage with SDX.”
He added: “We are building the future exchange for digital assets, so the ability to adapt and evolve the ecosystem over time is crucial. R3’s wide developer community, open-source codebase and experience across a range of industries make it ideal for this purpose.”
David Rutter, CEO and founder of R3, said: “Representing assets as tokens on a blockchain platform is one of the most impactful applications of the technology and a key focus for R3. SDX is pioneering this development and, as a blockchain platform machine-tooled for regulated, enterprise environments, Corda is the perfect partner for the project. This is an important vote of confidence in R3’s technology to deliver results and build a more efficient market environment.”
He added: “By enabling capital market transactions on a decentralized ledger, not only can SDX reduce costs for investors, but also enable the trading of some assets for the first time. This will have a huge impact on investors, providing new opportunities for capital and creating more effective markets.”
