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SDX Web3, the newly launched business unit from SIX Digital Exchange, is now live with its Institutional Custody Service for Crypto Assets. The service is designed for institutional clients that want to scale their Crypto Asset business leveraging best-in-class back-end services and capabilities. It allows institutions to safely and cost-effectively store and transfer Crypto Assets without having to deal with the related operational and technical complexities. By using a trusted infrastructure provider like SIX, our clients can focus on what they do best – servicing and anticipating the needs of their clients.
Swiss-based and underpinned with SIX Group’s high operational and security standards, this service represents a milestone in institutional Web3 infrastructure. As SIX is a trusted Financial Market Infrastructure provider, SDX Web3 can provide the highest quality of services for loss and theft prevention and is fully compliant regarding AML and sanction processes. All internal SDX Web3 processes are audited and proactively manage any associated risks.
The SDX Web3 Custody service includes key storage, transfer execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management. Initially the service comprises two key cryptocurrencies, BTC and ETH, and based on client demand, will plan to expand into further protocols and other crypto tokens such as stable coins, asset and DEFI tokens.
According to Stephan Kunz, Head of SDX Web3, “We are excited to offer institutions a second market infrastructure grade service after launching non-custodial staking earlier this year. Having laid the foundation, we can now further build out our service offering in the coming months.”
