It has recently been announced that financial service provider, SIX, has established a new partnership with investment and trading platform, Omniex.
The announcement goes beyond simply establishing a new partnership, as SIX is also said to have invested in Omniex, as the company continues building a foundation for supporting digital assets.
Financial details of this investment have not been made available at the time of writing.
The companies have stated that this partnership was established for a few clear reasons. One of which, is their shared interest in developing a solution which will ‘pave the way’ for institutional adoption of digital assets.
It is expected that this partnership will pay dividends in the development, and deployment, of SDX – an upcoming digital exchange which is a subsidiary of SIX.
Upon announcing their newly established partnership and investment, representatives from each, Omniex and SIX, took the time to comment. The following is what each had to say on the matter.
Hu Liang, CEO and Co-Founder Omniex, stated,
“The Swiss market leads other major financial markets in the adoption of legislation and regulation supporting digital asset trading and settlement. Together with SIX we aim to offer an end-to-end solution for the trading and settlement of digital assets, including the SIX Digital Exchange (SDX), once operationally live. It will still take some time, but the cornerstones are in place to accelerate the broader adoption of natively digitalized assets.”
Thomas Zeeb, Head Securities & Exchanges at SIX, stated,
“We see a growing need in the market to access crypto currencies. Our new collaboration will provide a standardized and secure gateway via SIX as the trusted partner of the financial industry. With SDX as the digital exchange infrastructure in development, the collaboration with Omniex to deliver the front end for clients, both for existing crypto currencies, as well as in future for SDX-listed assets, is an important addition to the digital ecosystem.”
A State of Flux
While the future of SIX and their upcoming platform, known as SDX, remain rife with potential, the company has not been immune to their share of hurdles.
In the past few months, we have reported on various occasions on rifts arising between personnel. The first such example came roughly 7 months ago, when the CEO of SDX stepped down.
Mere months after this development, we saw further examples of employees following the former CEO’s lead.
Despite these hurdles, it appears evident that SIX intends on marching forward. Between their strategic investments, and SDX platform development, SIX may just achieve their goals.
Founded in 2018, OMNIEX maintains operations in San Francisco, United States. Above all, Omniex hopes to serve institutional clients with their comprehensive platform, geared towards digital assets.
CEO, Hu Liang, currently oversees company operations
Founded in 2008, SIX maintains operations in Zurich, Switzerland. SIX has made it clear, through endeavors such as their SDX platform, that they believe in the future of digital assets. This has been made evident through both, the development discussed here today, and recent examples including an investment in Daura.
CEO, Jos Dijsselhof, currently oversees company operations.