SIX expands equity tokenization market with daura

Rick Steves

By partnership with SDX, daura expands the market for tokenized assets and enables its partner SMEs to issue private bankable securities in SDX’s centralized depository and access secondary liquidity, while managing their share registry and cap table via consolidated workflow.

SIX Digital Exchange has partnered with Swiss equity tokenization platform daura to enrich the exchange’s digital issuers ecosystem. Companies on daura will be able to issue digital equity securities seamlessly in SDX’s regulated Central Securities Depository (CSD).

The world’s first fully regulated FMI digital asset exchange provides issuers with the tools to support their funding journey from start-up to maturity as companies can and do stay private far longer than ever before.

Issuance, custody, and transfer of securities in private markets

David Hatton, Head of Product at SIX Digital Exchange, said: “This partnership with daura, represents a milestone shift in the way our industry functions. This approach builds on the relationship strengths of an organization like daura – where the digital securities are issued – and the separate, trusted and regulated strengths of SDX as a digital market infrastructure. This is another major step in establishing and developing the future ecosystem for the issuance, custody, and transfer of securities in private markets. We plan many more such partnerships as we build out our ecosystem.”

Peter Schnürer, Chief Executive Officer at daura, commented: “With this partnership between SDX and daura, we are adding another building block to the Swiss Digital Asset ecosystem: with SDX’s central custodian service and daura’s digital share register, a seamless End-to-End integration of SME and start-up shares into the banking system will be possible.”

David Newns, Head of Six Digital Exchange, added: “The expansion of our equity ecosystem aims at establishing a robust infrastructure that supports companies on their funding journey from an early stage to IPO. By combining DLT capabilities within a regulated exchange and CSD environment, SDX will provide a safe and trustworthy venue for these assets enabling institutional investors to securely invest in them.”

daura has been facilitating the issuance of digital shares since 2018, having been the chosen platform for 55 Swiss companies, which have tokenized their shares and raised over CHF 17 million from a community of 3,900 registered users.

By partnership with SDX, daura expands the market for tokenized assets and enables its partner SMEs to issue private bankable securities in SDX’s centralized depository and access secondary liquidity, while managing their share registry and cap table via consolidated workflow.

SDX will offer companies enhanced investor visibility, and reduced time to market thanks to the irreversible nature of records on blockchain.

Raising capital through digital shares on daura gives enterprises greater control of their cap table and related corporate activities, including organizing digital shareholders meetings and sharing confidential information in a secure environment.

Read this next

Digital Assets

US Treasury official clarifies stance on crypto mixing services

The Financial Crimes Enforcement Network (FinCEN) proposed a rule last year to classify convertible crypto mixing as a “class of transactions” with primary money laundering concerns.

Fintech

Robinhood sweetens US crypto offering with trading API

Robinhood has launched a cryptocurrency trading application programming interface (API) for users in the United States. The new API caters to seasoned crypto traders by enabling automated trading strategies, allowing users to react quickly to market movements and trends.

blockdag

After Retik Finance’s 67% Drop, Investors Turn to BlockDAG’s 30,000x ROI Potential to Recover Their Losses

Explore how BlockDAG’s $37M presale is drawing investors while Retik Finance collapses to $0.403.

Digital Assets

Terraform Labs and co-founder Do Kwon reach settlement with SEC

Terraform Labs and its co-founder Do Kwon have reached a “settlement in principle” with the U.S. Securities and Exchange Commission (SEC) regarding a fraud case, according to a court filing on Thursday.

Market News, Tech and Fundamental, Technical Analysis

FTSE 100 Index Technical Analysis Report 30 May, 2024

FTSE 100 Index can be expected to rise further toward the next resistance level 8325.00, which reversed the price earlier this month.

Chainwire

Sui and Atoma Bring the Power of AI to dApp Builders

The integration of Atoma adds new capabilities to Sui’s flourishing developer ecosystem with unique AI-querying capabilities.

Digital Assets

Talos incorporates DeFi with Skolem acquisition

Talos has acquired Skolem to enable clients to incorporate DeFi into their workflows in a move that sets a new standard for the digital asset OEMS and PMS.

Reviews

Ramp Network Deepens Local Presence by Introducing Payouts in Over 35 National Currencies and Instant Bank Payouts in Europe

Ramp Network expands its reach with new payouts in over 35 national currencies and introduces SEPA Instant bank transfers in Europe, enhancing crypto-to-fiat conversion options for users globally.

<