SIX Digital Exchange’s Web3 dedicated unit, SDX Web3 Services, announces a strategic collaboration with Fireblocks, the award-winning digital asset and crypto technology platform, to provide financial institutions and institutional investors with a set of infrastructure services for the distributed economy.

#SDX & @FireblocksHQ will deliver institutional custody solution for #digitalassets paving the way for a seamless transition for financial institutions into the #Web3 economy! https://t.co/4xQ0omNlo0 pic.twitter.com/ILSznhIQpy

— SIX Digital Exchange (@SDX_global) July 5, 2022

Initially, this partnership will focus on delivering an institutional custody solution for digital assets, paving the way for a seamless transition for financial institutions into the Web3 economy. SDX Web3 Services will integrate Fireblocks’ MPC-based solution, designed to support institutions with a multi-layer security platform to safely store and transfer digital assets without jeopardizing operational efficiency, into its system. Starting with key cryptocurrencies and expanding into other classes of tokens, these best-in-class services will include key storage, transaction execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.

Fireblocks’ network of 1,300 members, proven technology approach and industry-leading, battle-tested security systems will differentiate SDX Web3 Services’ client offerings apart from its competitors. The platform integration will consist of the highest institutional-grade standards and remains in line with SIX Group established trusted position and standards in the market.

This offering is intended for Swiss and European institutional clients such as banks, corporates, and other financial institutions. The go-live is planned for H2 2022.

“At SDX we believe that digital assets and their underlying blockchain technology offer clear benefits that traditional infrastructure cannot provide. SDX is supporting institutional adoption through the launch of the SDX Exchange and CSD in October last year, and with the launch of SDX Web3 Services last month. SDX Web3 Services is committed to delivering a suite of future-proof solutions for institutional players as they embrace Web3. We are excited to embark on this journey together with Fireblocks, the leading digital asset custody, transfer and settlement platform, to build an institutional-grade secure digital asset custody service for our clients,” said David Newns, Head SDX.

This integration is just the beginning of Fireblocks and SDX’s partnership. SDX Web3 Services is already working on integrating SDX non-custodial staking access into Fireblocks’ solution.

“We are delighted to partner with the SIX Digital Exchange and SDX Web3 Services teams to provide their institutional investors and regulated intermediaries with the industry’s most advanced and secure institutional-grade platform. With our technology, SDX’s customers are able to experience a seamless access into Web3, which further supports our goal of global Web3 adoption,” said Michael Shaulov, Co-founder & CEO of Fireblocks.

Source: SIX