SIX Digital Exchange (SDX)

SIX Digital Exchange (SDX) is the world's first fully regulated digital financial market infrastructure (FMI) for digital assets, founded in 2018 and headquartered in Zürich, Switzerland. Operated as part of SIX Group — one of Europe's leading financial market infrastructure providers — SDX is regulated by FINMA, Switzerland's financial market supervisory authority. SDX is pioneering the adoption of Distributed Ledger Technology (DLT) and Web3 within the global institutional financial sector.

Core Products/Services

SDX operates two closely related but distinct business lines:

Digital Securities (SDX Exchange & CSD): SDX operates a regulated digital asset exchange offering issuance, listing, multilateral trading, settlement, and custody of tokenized securities. At its core is a Central Securities Depository (CSD) built on DLT — the world's first of its kind to receive full regulatory approval. This enables the full lifecycle management of digital securities including digital bonds and other tokenized instruments, with atomic settlement on-chain eliminating counterparty risk.

SDX Web3: A dedicated institutional Web3 services platform offering crypto custody and digital collateral management. SDX Web3 provides banks and financial institutions with banking-grade infrastructure to access digital asset markets, including secure key storage and management for major cryptocurrencies (Bitcoin, Ethereum, Avalanche, Cardano, Solana, Ripple, and stablecoins), automated compliance reporting, and AML/sanction-screening processes.

Digital Bonds: SDX offers a dedicated pathway for the issuance and trading of digital bonds on its DLT-powered exchange. Targeting both banks (as trading participants) and issuers (corporates, municipalities, and financial institutions), this service streamlines the entire bond lifecycle from issuance through settlement, leveraging smart contracts for automation.

Digital Collateral Service: Jointly delivered by SIX Securities Services and SDX, the Digital Collateral Service (DCS) enables the use of selected crypto assets as collateral alongside traditional securities on a single unified platform. Acting as a bankruptcy-remote regulated collateral agent, SIX safeguards counterparty exposures for ETP issuers, trading firms, prime brokers, and asset managers.

Wholesale CBDC (Helvetia Pilot): SDX has been the platform for Project Helvetia and the Helvetia Pilot, a collaboration with the Swiss National Bank (SNB) and the BIS Innovation Hub to explore wholesale Central Bank Digital Currency (wCBDC) integration with tokenized assets on blockchain infrastructure.

Key Strengths

• Regulatory standing: Full FINMA regulation as both an exchange and CSD — uniquely positioned as the only regulated DLT-based financial market infrastructure globally
• SIX Group backing: Benefit from the infrastructure, capital, and operational standards of one of Europe's largest FMI providers
• Institutional-grade security: Banking-grade compliance, AML/sanctions processes, and Swiss-domiciled key management
• Ecosystem of 34 members: A growing network of Swiss and international banks including UBS, Raiffeisen, Zürcher Kantonalbank, Commerzbank, and Pictet
• DLT expertise: Deep technical expertise in applying blockchain/DLT to regulated financial infrastructure at scale

Notable Clients/Projects

SDX has onboarded 34 member institutions including major Swiss cantonal banks, UBS, Commerzbank, and international institutions such as SBI Digital Markets (Singapore). Live digital bond issuances from issuers including the City of Lugano, Canton of Zurich, World Bank, and KfW are settled on the SDX platform. The Helvetia Pilot demonstrated live wCBDC-based settlement of digital bonds on SDX in collaboration with the Swiss National Bank.

Why Choose SDX

SDX offers institutional clients a fully regulated, secure, and operationally mature pathway into digital asset markets. Unlike crypto-native platforms, SDX combines the trust and compliance standards of traditional financial market infrastructure with the efficiency and programmability of DLT. For banks and financial institutions seeking to offer digital asset services without building in-house infrastructure, SDX provides a compliant, Swiss-domiciled solution backed by SIX Group.