Bitcoin, Blockchain & Cryptocurrency News

Bitcoin
Ripple
Ethereum
Show details
Hide details
Market Cap
Volume (24h)
Market Cap
Volume (24h)
Market Cap
Volume (24h)
Hand Picking up an R3 Token

Switzerland’s SIX Digital Exchange Adopts R3’s Corda Blockchain Solution

Reading Time: 2 minutes by on March 8, 2019 Adoption, Blockchain, Business, Exchange, Finance, News

SIX Digital Exchange (SDX), an operator of Financial Market Infrastructure (FMI) regulated by FINMA and the Swiss National Bank, has chosen R3‘s Corda Enterprise blockchain platform for its digital asset listing, trading, settlement, and custodial services, according to a press release on March 7, 2019.

SIX Digital Integrates Corda into its Operations

SIX Digital Exchange is a fully-integrated digital asset trading, settlement and custody platform regulated by the Swiss Financial Market Supervisory Authority (FINMA) has chosen Corda Enterprise as its preferred blockchain platform to power its digital asset listing, trading, custodial, and settlement operations.

Interestingly, R3 claims that a significant number of its investors and members, including Barclays, Commerzbank, Credit Suisse, Deutsche Bank, and several others, also trade on the SIX stock exchange and as such the adoption of Corda by the latter seems like a forward-thinking maneuver.

Why Corda?

Launched in 2016, the R3 Consortium reports that its Corda Enterprise blockchain platform is built to function in a highly-regulated environment that require highly functional and efficient network infrastructure, and as such, Corda is an excellent solution for digital assets trading platforms.

Established in 1850, SIX Swiss Exchange, the creator of SDX, is the first stock exchange in the world to incorporate an entirely automated trading, clearing, and settlement system and it’s responsible for running the entire Swiss securities and payment value chain.

In July 2018, SIX announced the creation of SIX Digital Exchange (SDX), to enable the tokenization of existing securities through blockchain technology and offer clients end-to-end trading of digital assets in a secure and regulated environment.

Against that backdrop, Sven Roth, member of the management team at SDX, noted that R3’s blockchain solution has been selected based on merit, as Corda has the exact qualities the firm requires for blockchain infrastructure.

In his words:

“As a regulated and trusted financial market infrastructure provider, SIX must operate at the highest level of security and efficiency. We firmly believe that R3’s Corda Enterprise is the best fit for the scale and breadth of service we envisage with SDX.”

Roth also stated that R3’s vast developer community, open-source code base and expertise across a wide range of industries would be highly beneficial to the SDX ecosystem.

It’s also worth noting that the Corda blockchain platform has seen significant adoption in recent times.

In February 2019, BTCManager informed that Monetago had migrated its fraud mitigation network from Hyperledger Fabric to Corda.

Like BTCMANAGER? Send us a tip!
Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4
# Trending stories
Join our telegram channel