SIX Group Integrates Digital Asset Exchange Unit
SIX Group AG, which operates the Swiss and Spanish stock exchanges, is closing its digital asset exchange unit, SDX. The company will merge SDX’s trading operations into its main exchange. Digital asset settlement and custody will move to SIX’s post-trade division.
Marco Kessler, SIX’s Head of Product and Business Development for Digital Assets, told Bloomberg the integration aims to make digital asset services more seamless and scalable across the group.
Ongoing SDX projects with Banque Pictet and Citigroup on tokenizing securities will now be managed by SIX Securities Services. This post-trade unit will also handle projects involving the division of securities into smaller parts.
Kessler said the change reflects the need to standardize digital asset capabilities and the growing innovation in post-trade activities.
Growing Interest in Tokenization
SIX Group’s move aligns with increasing interest from fintech firms and financial institutions in blockchain technology. Tokenization uses blockchain to digitize traditional assets like stocks and bonds.
This process allows assets to be transferred faster, 24/7, and at potentially lower costs than traditional systems. It may also improve access to less liquid assets, such as private company shares.
SDX launched in 2021 to provide infrastructure for regulated digital securities, including an exchange and central securities depository. The platform has issued about 2.5 billion Swiss francs ($3.1 billion) in digital bonds. It also supported the Swiss National Bank’s central bank digital currency pilot.
Partnerships and Future Projects
In May 2025, Citigroup and SDX announced plans to tokenize, settle, and safekeep assets using SDX’s central securities depository. The partnership focuses on digitizing late-stage pre-IPO equities, with Citi acting as tokenization agent and custodian.
These projects will continue under SIX’s post-trade division, according to Kessler.
