Switzerland’s SIX Digital Exchange (SDX) and daura, the Swiss equity tokenization platform, announced a partnership aimed at enriching the exchange’s digital issuers ecosystem. As a result, companies on daura will be able to issue digital equity securities in SDX’s regulated Central Securities Depository (CSD).
Since 2018, by issuing their digital shares on daura, in which SIX was a strategic early investor, 55 Swiss companies have tokenized their shares and raised over CHF17 million ($17.9mn) from a community of 3,900 registered users.
This new partnership with SDX will enable daura’s 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.
By coordinating processes across all involved parties, SDX will offer companies enhanced investor visibility, and reduced time to market. This is made possible through the fact that records in DLT are irreversible. A key benefit in raising capital through digital shares on daura is that it 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.
“This is another major step in establishing and developing the future ecosystem for the issuance, custody, and transfer of securities in private markets,” said David Hatton, head of Product at SDX, in a statement
Peter Schnürer, CEO of daura, said in a statement: “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 SDX, said in a statement: “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.”