Standard Chartered is to join the SIX Digital Exchange and SDX’s Central Securities Depository (CSD) platform for digital asset custody.
In a media announcement on Tuesday (25 March), the London-listed bank said its decision to sign a memorandum of understanding was to reinforce its commitment to expanding its digital asset services.
Margaret Harwood-Jones, global head of financing and securities services at Standard Chartered said the bank sees SDX as a pioneer and a leading institution for digital securities in Switzerland.
She added: “This next step in our journey supports our ambition to grow our digital asset custody offering and will unlock even greater opportunities for our clients.”
Standard Chartered has been steadily growing its digital assets operations in Europe in recent months. In January, the group established a new operating entity in Luxembourg, enabling it to offer digital asset custody services to the EU region.
SDX and its subsidiaries issue, trade, settle, and act as custodians of digital assets. It is licensed by FINMA, Switzerland’s financial market regulator. SDX also operates a stock exchange through SDX Trading AG and the SIX Digital Exchange, which is Switzerland’s only CSD on DLT.
David Newns, head of SDX, welcomed the news, saying that Standard Chartered’s move was a landmark announcement.
“Their decision to join our platform marks a major milestone in expanding the Swiss digital securities ecosystem with an international bank.
“This step strengthens Switzerland’s position as a global hub for digital assets and enhances connectivity between Europe, Asia, and the Middle East.”
