SIX Lining Up Investors for Its Blockchain-Based Exchange

Swiss Digital Exchange (SDX), the blockchain-based platform of Swiss stock exchange , is lining up companies by forming a consortium to invest in the upcoming initial digital offerings (IDO) of the platform.
Speaking to the Coindesk, Thomas Kindle, the newly appointed chief of SDX, revealed that the IDO of the platform is expected to hit the market in the middle of next year. Though similar to an initial public offering (IPO) the shares of the company will be listed in the form of security tokens.

Though he did now provide any target figures for securing the new capital, he stated that SIX will remain the majority shareholder of the platform.
“We are not just looking to Abu Dhabi sovereign wealth fund to give us money. We are looking at our clients to invest, but at the same time commit business and help us validate what we built and get it off the ground. The key focus is not money; it’s money linked to business and validation of the business model,” Kindle told the publication.
The identity of the members of the consortium is also unknown, however, they include banks, buy-side firms and market infrastructure providers.
“What we foresee are two levels. On one large level … we are looking at, say, four or five-ish large investors. Then potentially ten-ish smaller investors,” he added.
Delay in the launch of its services
Announced last year, SDX is . Meanwhile, the launch of the platform was recently from the second half of this year. The exchange, however, launched a prototype to test the features of the blockchain-based platform.
“We are looking at a two-phased approach,” Kindle added. “As a first step, we are looking at an international consortium of investors. The second step would be our own issuance.”

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *