Switzerland's principal stock market, SIX Swiss Exchange, has chosen to use blockchain pool R3’s Corda Enterprise platform for its forthcoming blockchain-powered digital exchange. The news was discovered throughout the R3-hosted Corda Day event in Singapore on March half dozen.
The SIX Swiss Exchange sees roughly four.62 billion Swiss Francs (CHF) (~$4.6 billion) in daily turnover, and incorporates a capitalisation of over one.67 trillion CHF ~($1.6 trillion). As Cointelegraph according in July 2018, SIX antecedently disclosed its plans to launch a digital plus system, dubbed Six Digital Exchange (SDX).
In Feb 2019, the corporate declared it'd be testing blockchain integration for SDX, and would use the technology to tokenize stocks, bonds and probably exchange-traded funds (ETFs).
At the time, SIX exchange chairman Romeo Lacher aforesaid he expects the new blockchain-powered SDX digital exchange to come after SIX’s existing marketplace among a decade, and conjointly discovered that the corporate plans to roll out its own security token giving.
Corda Enterprise is that the paid-for offset of R3’s open supply Corda blockchain platform, and may be used across applications that embody capital markets infrastructure, trade finance, identity, insurance, and alternative money service or business applications.
Adoption by a serious money market infrastructure supplier like SIX represents a primary for Corda Enterprise, that saw its 1st business licensing deal in January 2019 with Dutch international bank ING. ING had notably put together completed the primary live dealings in securities exploitation R3’s open supply Corda back in March 2018.
As Cointelegraph has according, in parallel to its in progress SDX development, SIX listed a complicated multi-crypto-based exchange-traded product (ETP) in fall 2018, that tracks 5 major cryptocurrencies. Earlier in the week, the exchange’s Ethereum (ETH)-based ETP conjointly began trading.