SDX

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SDX
SDX Logo.png
Founded 2019
Headquarters Zurich, Switzerland
Key People Thomas Zeeb, Chairman; Tim Grant, Head; Mathhias Studach, Head of Finance and Risk
Products Digital asset trading and services
Twitter @SDX_global
LinkedIn Profile
Website SDX
Blog Insights

SDX, also known as SIX Digital Exchange, was established by SIX Group to execute on the company's digital asset and blockchain strategies.

The project launched with a prototype in September 2019 based on SIX Group's trading technology and connection to a new distributed ledger technology-driven central securities depository.[1]

Management changes

According to CoinDesk, an online cryptocurrency news service, many of the original management of the project had left by early 2020. SDX's CEO Halblaub quit in summer 2019. He was followed approximately six months later by Alex Zinder, architecture lead, Ivo Sauter, head of clients and products, and Sven Roth, chief digital officer. Sauter told CoinDesk, “I think for me, the biggest thing was the initial vision changed. Primarily, this was because the mother company took more and more influence on SDX. I believe that with an innovation project like SDX there needs to be a bit of separation from the big mother.”[2]

In March 2020, SIX announced that Tim Grant, the former CEO of DrumG Technologies, would head SDX.[3]

Front-end development

Omniex was selected by SIX Group in February 2020 to provide the front end for its SDX cryptocurrency trading platform which was planned to launch later that year. SIX Group made an investment of an undislcosed in Omniex amount at the time of the selection.[4]

Joint ventures

SDX announced on December 7, 2020 that it was investing in Custodigit, a digital asset custody company that was already in operation, and that it would join with Swisscom and Sygnum to offer a complete chain of digital services from trading to settlement to custody. The joint offering, dubbed the "Institutional Digital Asset Gateway" was planned to launch in the first quarter of 2021. Custodigit was established by Sygnum and Swisscom two years earlier in 2018. Sygnum is a digital asset bank regulated by the Swiss government.[5]

On December 8, 2020, SDX and SBI Digital Asset Holdings announced they would "work towards" launching a joint venture for a Singapore-based digital issuance platform, exchange and central securities depository that would attract institutional business.[6]

References