Deutsche Börse, Swisscom and fintech firm Sygnum have teamed up to provide financial markets with a new DLT-based platform for financial services, based in Switzerland.
A broad range of services around digital financial assets will be enabled if the newly announced partnership becomes successful. The news was picked up by many outlets, including Global Custodian and Cointelegraph.
Licensed to trade
While most known as exchange operator, Deutsche Börse here participates as market infrastructure provider. National telecoms veteran Swisscom comes in with its own DLT infrastructure, said to meet the industry’s security requirements.
Swiss/Singaporean fintech firm Sygnum has been licensed by Switzerlands regulator Finma, thus becoming able to deliver ”comprehensive banking services such as custody, deposits, credit & lending, capital issuance via tokenization, brokerage and asset management”.
A project among several
Cointelegraph notes that Deutsche Börse just recently completed a proof-of-concept for a legally binding repo transaction over DLT, with Commerzbank, and is also proceeding quickly with a blockchain-driven securities lending platform together with Luxembourg’s HQLAx. Swisscom is reported to have announced, in January, an e-signature which can legally authenticate smart contracts on blockchains. This was developed with the Zurich University of Applied Sciences.