Cryptocurrencies
SIX and SBI Planning Digital-Asset Exchange Based in Singapore
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SIX Digital Exchange and SBI Digital Asset Holdings Co. plan to create an exchange for digital assets that’s based in Singapore and will start operation by 2022.
The plan, which is subject to regulatory approval from the Monetary Authority of Singapore, sees formalized Singapore operations next year, with the goal of launching active offerings by 2022 at the latest, according to a statement. Connectivity to Swiss and Japanese businesses as well as other partnerships are expected to follow. The joint venture’s issuance, exchange and CSD platforms are expected to be fully regulated by existing Singapore law.