The Swiss exchange’s newly launched business unit, SDX Web3, has launched an institutional custody service for crypto assets.
The service will allow institutions to store and transfer crypto assets through a familiar name, without having to deal with the related operational and technical complexities.
The SDX Web3 Custody service includes key storage, transfer execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.
Initially the service will cover the two key cryptocurrencies, BTC and ETH. SIX said that, based on client demand, it plans to expand into further protocols and other crypto tokens such as stable coins, asset and DEFI tokens.
“We are excited to offer institutions a second market infrastructure grade service after launching non-custodial staking earlier this year,” said Stephan Kunz, head of SDX Web3. “Having laid the foundation, we can now further build out our service offering in the coming months.”
SDX is licensed by Switzerland’s financial market regulator, FINMA, to operate an exchange and a central securities depository (CSD) and offers issuance, listing, trading, settlement, servicing, and custody of digital securities.