The principal stock exchange of Switzerland, SIX Swiss Exchange, is in the latest crypto news for choosing to use the blockchain consortium named R3 and its Corda Enterprise platform for its forthcoming blockchain-powered digital exchange.
This news went viral during the R3-hosted Corda Day event in Singapore on March 6th. Currently, the SIX Swiss Exchange sees more than 4.62 billion Swiss Francs (CHF) (nearly $4.6 billion) in daily turnover and has a market cap of more than 1.67 trillion CHF. It previously unveiled its plans to launch a digital asset ecosystem, named Six Digital Exchange (SDX).
Last month, SIX unveiled that it would be testing blockchain integration for SDX and would use the same technology to tokenize stocks, bonds as well as exchange-traded funds (ETFs).
Corda Enterprise is the paid-for offshoot of R3’s open source Corda blockchain platform and can be used across many applications that range from capital markets infrastructure to trade finance, identity, insurance as well as other financial services.
This represents a first adoption by a major financial market for Corda Enterprise. Meanwhile, the company saw its first commercial licensing deal in January this year – pairing with the Dutch international bank ING and completing the first live transaction in securities using R3’s open source Corda back in March last year (2018).
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