SDX Web3 Services, the new service portfolio from SIX Digital Exchange (SDX), is a range of offerings for institutional clients.
SDX Web3 Services will aim to support the secure adoption by financial institutions of the next iteration of the World Wide Web, one that’s based on blockchain tech and decentralized applications (dApps).
At first, SDX Web3 Services will reportedly include various products for digital assets such as custody and non-custodial staking.
SDX Web3 Services are intended for the institutional client segment and will focus on the most prominent apps of Web3: cryptocurrencies, NFTs and other crypto-asset tokens.
SDX says that it considers the provision of industrial-strength, institutional-grade foundational infrastructure provided by an efficient, secure and stable provider like SIX as a key step towards establishing the levels of trust required for the ongoing adoption of this nascent technology.
The introduction of SDX Web3 Services represents a key milestone in the evolution of institutional markets as they begin to adopt Web3 tech. The initial offering will reportedly include two enablers of this market transition: custody and non-custodial staking.
SDX Web3 Services provide secure digital asset custody services to institutional clients.
Beginning with major cryptocurrencies and expanding into other sets of tokens, these services include key storage, transaction execution and monitoring with banking-grade compliance standards, automated reporting and blockchain management.
SDX Web3 Services offer fully managed validator infrastructure and APIs to support reliable and secure non-custodial staking.
Beginning with Ethereum, SDX will provide institutional customers with a simple and secure process to launch validators and generate yield for customers.
David Newns, Head of SDX, said:
“The institutional adoption of digital assets requires trusted institutional-grade services. Our track record at SIX in providing innovative, functionally rich, efficient, and secure capital markets technology – coupled with SIX Digital Exchange’s deep expertise in digital assets and blockchain – means that SDX is perfectly positioned to help our clients in managing their Web3 activities in a safe and secure manner by providing those clients with the highest standard of Web3 infrastructure services.”
Thomas Zeeb, Global Head of Exchanges, SIX and Chairman SIX Digital Exchange, remarked:
“The launch of SDX Web3 Services is a significant step forward for the industry and, in particular, for investors. There are very few globally respected and regulated market infrastructure providers such as SIX supporting clients in their transition to Web3 as a whole and, specifically, to the cryptocurrency space. This move not only allows SDX to broaden its product portfolio in the service of its direct clients but also in the interests of end investors and the entire ecosystem.”