SIX, a European Financial Markets Infrastructure provider, has chosen Corda Enterprise’s R3 blockchain infrastructure as the foundational blockchain technology behind its SIX Digital Exchange (SDX), which is a digital asset trading, listing, custody and settlement service.
Corda Enterprise is the commercial version of Corda customized to cater for businesses that require robust operational and security measures. These features will be a major asset to SDX’s comprehensive settlement, trading and custody solution for digital assets.
R3 serves investors and members such as Barclays, HSBC, Credit Suisse, Deutsche Bank and BNP Paribas, among others are also part of SIX’s stock exchange service and as such will have an easy time adopting Corda’s new blockchain platform, which will soon be available through SIX’s digital exchange (SDX).
Sven Roth, a member of SDX’s management team, commented:
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.
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 code base and experience across a range of industries make it ideal for this purpose.
David E.Rutter
The founder and CEO of R3, David E. Rutter explained:
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.
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 for investors, providing new opportunities for capital and creating more effective markets.