The Swiss Digital Exchange (SDX) will issue a bond on a blockchain to show that the financial market can benefit mainstream securities, the company announced. Thus, the digital trading arm of the SIX Swiss Exchange will become the first regulated market infrastructure to issue the bond with the help of the blockchain technology for settlement, said SDX CEO David Newns.
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According to the report, the traditional part of the bond will be listed and traded on SIX Swiss Exchange. The digital part accounts for CHF 100 million of the total issue volume. CHF 50 million was allocated to the traditional part of the bond.
"This is an innovative and historic transaction as it is the first of its kind in the world on a regulated and fully integrated digital exchange," said Daniel Schmucki, CFO SIX
Earlier in September, SIX announced it had received regulatory approval from the financial watchdog FINMA for SDX. The exchange said that the FINMA's green light enables it to open settlement and custody services based on distributed ledger technology.
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