SDX and Banque Pictet & Cie conclude joint pilot project
14 July 2025 UK
Image: Suriyo/stock.adobe.com
SDX, part of SIX, and Banque Pictet & Cie have concluded a joint pilot project, tokenising corporate debt instruments and allocating fractional quantities of these assets to portfolios managed by Pictet Asset Management.
This initiative demonstrates the potential of tokenised securities which, according to the organisation, will offer more flexible, efficient, and scalable tools for delivering tailored investment solutions to asset managers.
The pilot project focused on euro and Swiss franc-denominated corporate bonds, held in custody at SIX SIS to be tokenised on the SDX platform.
These were then allocated in fractions to the investors via the portfolios‘ custody bank account, enabling a level of portfolio customisation, which would not be easily achievable via traditional systems, according to the organisation.
A key benefit is that the solution can be utilised for all debt instruments (both traditional and digitally issued).
This pilot supports new operating models for mutual fund management, including more tailored investment strategies and improved diversification for smaller investments, supported by automated fractionalised portfolio rebalancing.
David Newns, head of SDX, says: “We are delighted that our successful pilot project with Pictet has established a foundation for integrating digital bonds into fund portfolios.
“This milestone marks the first successful fractionalisation of securities on regulated blockchain-based financial market infrastructure in production.”
Olivier Ginguené, chief investment officer Multi Asset and Quantitative Investment at Pictet Asset Management, says: “We are pleased to collaborate with SIX on this breakthrough project.
“It is the first time that tokenisation and fractionalisation have been combined in the Swiss market to enable real investments in traditional asset classes such as equities or bonds.”
This initiative demonstrates the potential of tokenised securities which, according to the organisation, will offer more flexible, efficient, and scalable tools for delivering tailored investment solutions to asset managers.
The pilot project focused on euro and Swiss franc-denominated corporate bonds, held in custody at SIX SIS to be tokenised on the SDX platform.
These were then allocated in fractions to the investors via the portfolios‘ custody bank account, enabling a level of portfolio customisation, which would not be easily achievable via traditional systems, according to the organisation.
A key benefit is that the solution can be utilised for all debt instruments (both traditional and digitally issued).
This pilot supports new operating models for mutual fund management, including more tailored investment strategies and improved diversification for smaller investments, supported by automated fractionalised portfolio rebalancing.
David Newns, head of SDX, says: “We are delighted that our successful pilot project with Pictet has established a foundation for integrating digital bonds into fund portfolios.
“This milestone marks the first successful fractionalisation of securities on regulated blockchain-based financial market infrastructure in production.”
Olivier Ginguené, chief investment officer Multi Asset and Quantitative Investment at Pictet Asset Management, says: “We are pleased to collaborate with SIX on this breakthrough project.
“It is the first time that tokenisation and fractionalisation have been combined in the Swiss market to enable real investments in traditional asset classes such as equities or bonds.”
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