Collaboration to Boost Crypto Liquidity
SBI Digital Asset Holdings has partnered with Switzerland’s SIX digital exchange (SDX) to create a new crypto issuance company in Singapore. This initiative aims to establish a robust liquidity hub catering to institutional investors across the Asia-Pacific region and Europe.
Leadership’s Vision
The CEO of SBI Holdings, Yoshitaka Kitao, emphasized the significance of this partnership: “This is an important step in building the necessary global infrastructure for widespread institutional adoption of digital assets.” Kitao expresses confidence that combining SDX’s Swiss strength with SBI’s initiatives in Osaka will forge a strong corridor for institutions engaging in digital assets.
Targeting Institutional Demand
The joint venture responds to the increasing demand within the institutional sector for credible and regulated digital asset services. As crypto adoption steadily rises in the Asia-Pacific region, SBI and SIX are positioning themselves to meet the needs of regulated institutions.
Expected Launch and Offerings
Formal operations are anticipated by the end of 2021, with offerings commencing in early 2022, pending regulatory approval from the Monetary Authority of Singapore. The joint venture plans to provide tokenized assets like digital bonds, equities, and securitized loans, catering specifically to institutional investors.
Singapore’s Crypto Landscape
Over recent years, Singapore has emerged as a leading crypto hub. The city-state is home to significant exchanges such as Binance, FTX, and Coinbase, attracting many crypto firms seeking a regulatory-friendly environment amidst global uncertainties. This partnership further solidifies Singapore’s role in the evolving crypto ecosystem.
The Road Ahead
In conclusion, the collaboration between SBI and SIX is a bold step toward the evolution of digital asset infrastructure, emphasizing the vital intersection of regulatory compliance and institutional demand. All eyes are now on the momentum this venture will generate in the region’s crypto landscape.
