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Swiss Stock Exchange to Launch an ‘Initial Digital Offering’

Sep 30, 2019
byOmar Abbas

The Swiss Digital Exchange (SDX), the blockchain-based platform owned by SIX Group – a Swiss Stock Exchange company – has put together a team of financial institutions across the globe to back its “initial digital offering” (IDO).

Similar to a traditional IPO, the IDO’s shares will be listed on a stock exchange. The key difference, however, is that these shares are blockchain-based securities (security tokens) vs. paper-based stock certificates. Security tokens traded on a regulated exchange results in a global financial network where investors can own stakes in companies located anywhere in the world; making the entire capital markets system more transparent, more compliant and more efficient. It allows investors to instantly track ownership on an immutable digital ledger, trade tokens on a 24/7 market, and enable investors to own fractional shares.

Thomas Kindler, Head of SDX told CoinDesk: “We are not just looking to Abu Dhabi sovereign wealth fund to give us money. We are looking at our clients to invest, but at the same time commit business and help us validate what we built and get it off the ground. The key focus is not money; it’s money linked to business and validation of the business model.”

Kindler went on to say that, “We want to set a standard so we would go live on our own exchange obviously, and that would be a native asset token.” The SDX digital equity token built on R3’s Corda blockchain technology.

Scheduled to launch in mid-2020, the consortium of financial institutions involved include a cohort of banks, wealth management firms and market infrastructure providers. Ultimately, the goal is to not only raise the capital but legitimize the technology.

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