Swiss principal stock exchange SIX Swiss Exchange has reportedly forged an alliance with the financial heavyweight from Japan, SBI Holdings, to jointly roll out a crypto-associated venture. 

Specifically, the company’s crypto asset-focused subsidiaries, SIX Digital Exchange and SBI Digital Asset Holdings, are reportedly making a new platform available, located in Singapore. 

The venture will reportedly cater primarily to regulated institutional customers, finalizing tech implementation and market expertise from both SBI and SIX. 

The platform will reportedly come with numerous services, nominally issuing, listing, trading, CSD infrastructure and custody of crypto assets and crypto coins, together with regulated digital asset securities.

The tentative release date for the platform will reportedly be 2022, currently seeking regulatory greenlight from the Monetary Authority of Singapore, the city-state’s main financial regulator and de facto central bank.

Yoshitaka Kitao, current Head of SBI Group and chairman of SBI Digital Asset Holdings, reportedly revealed that the new venture is expected to “establish a powerful institutional corridor between Europe and Asia.” 

“This is an important step in building the necessary global infrastructure for widespread institutional adoption of digital assets,”  Kitao further remarked. 

“SBI Group is a natural partner for SIX given their strong position in Asia and their significant commitment to growing institutional digital asset markets.” SIX Digital Exchange chairman Thomas Zeeb reportedly stated.