Swiss securities exchange SIX launches digital collateral services for Crypto Assets and traditional assets

On February 12, PANews reported that SIX, the Swiss securities exchange group, has launched its digital collateral service, allowing Financial Institutions to use encryption assets as Collateral alongside traditional securities. According to the official press release, SIX operates as one of the largest tri-party agents in Europe, providing Collateral management solutions for Financial Institutions. With this new service, institutions no longer need to use a separate platform to manage encryption Collateral, thus reducing operational complexity and improving Risk Management. The system also ensures additional protection in the event of default. It is worth noting that Collateral will be mainly used for transactions related to encryption, such as transactions by the issuer of Exchange Traded Products (ETP), institutional traders, and encryption exchanges. While the service supports the use of bonds and Bitcoin as a single position Collateral, it cannot be used for repurchase transactions on the SIX exchange or as Collateral for securities lending. Instead, it is designed to provide Collateral solutions for OTC and bilateral encryption transactions. Initially, the service will support Bitcoin, Ethereum, Avalanche, Cardano, Solana, Ripple, and USDC, with plans to expand asset selection according to customer demand.