Swiss Stock Exchange SIX has launched its much-awaited SIX Digital Exchange (SDX) along with an issuance of 150 million CHF ($162 million) bond as a digital asset.
According to the exchange’s press release, the new blockchain bond is the “world’s first digital bond in a fully regulated environment.” The bond will mature in 2026 and will be redeemable. Two-Third of the digital bond will be listed on SDX in tokenized digital format, and the rest will be issued in a conventional format on SIX exchange.
SIX launched the digital exchange two months after it received regulatory approval from FINMA. The exchange received two licenses from the country’s financial regulator, one to operate the digital exchange, and the other to direct depository for blockchain-based securities.
Thomas Zeeb, Global Head of Markets at SIX, commented:
“The first issue of a tokenized bond on the SIX Digital Exchange as well as its listing and placement in the market proves that the forward-looking distributed ledger technology (DLT) also works very well in the highly regulated capital market. This transaction marks the beginning of a new era.”
The SDX workflow, including the post-transaction process, was built entirely using distributed ledger technology “Corda” provided by R3. Corda is a licensed enterprise private chain that is used by financial institutions around the world.
The entire workflow of @SDX_global is facilitated through R3's private, permissioned industrial strength platform, Corda. Read more about the exciting news in our latest blog here: https://t.co/FRUhA7uW2W pic.twitter.com/hFQJ4Fv4Eh
— R3 (@inside_r3) November 18, 2021