Switzerland’s SIX Digital Exchange (SDX) has announced what it claims is the world’s first tokenisation of an equity share in a fully-regulated central securities depositary (CSD) based on blockchain technology.
The transaction was conducted in partnership with fintech F10 and digital share register company Aequitec.
The shares will be issued by F10 while Aequitec will manage the share registry services.
SDX, which describes itself as the world’s first fully regulated digital asset exchange, stated that tokenisation will bring more efficiency and greater liquidity to private markets and allow for the move from “one-by-one private placement to a sustainable, digitalised, process-driven business”.
Massimo Butti, head of equity at SDX, hailed the collaborative effort involved in the tokenisation project. : “An ecosystem that supports private companies in their funding journey and reduces the complexities and inefficiencies of issuing private equity can only be achieved through collaboration: with existing and new players; by leveraging existing processes; and by creating new technical standards,” he said.
“The issuance of F10 shares on SDX is the result of the cooperation with different market actors. It provides a scalable blueprint for other issuers and participants to issue digitized shares and affirms that our private issuance market is open for business”.
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