BX Digital Secures Key Partnerships for New DLT Trading Platform

BX Digital, a division of BX Swiss AG, has announced a significant milestone with the onboarding of three Swiss banks and two securities firms. This follows BX Digital's recent acquisition of the first FINMA licence for a Distributed Ledger Technology (DLT) trading facility. The banking institutions include Sygnum Bank, Incore Bank, and Hypothekarbank Lenzburg, alongside securities firms ISP Group and EUWAX AG.

The involved entities are now in the onboarding process and plan to engage in regulated digital asset trading once the system is operational. This marks a pivotal development toward establishing a comprehensive institutional ecosystem for digital assets in Switzerland. The collaboration underscores a shared commitment to advancing the digital financial landscape.

BX Digital emphasizes the platform's design, which allows for settlement in Swiss francs and asset transfers via a public blockchain, bypassing traditional intermediaries such as central securities depositories. This innovation aims to streamline processes, reduce costs, and enhance security and asset control. The system's integration with the Swiss National Bank's payment network ensures seamless banking sector compatibility.