PANews reported on February 12 that according to Cryptonews, Swiss Stock Exchange Group SIX has launched its digital collateral service, allowing financial institutions to use crypto assets as collateral together with traditional securities. According to the official press release, SIX operates one of the largest tripartite 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 crypto collateral, thereby reducing operational complexity and improving risk management. The system also ensures additional protection in the event of a default.

It is worth noting that crypto collateral will be used primarily for crypto-related transactions, such as those conducted by exchange-traded product (ETP) issuers, institutional traders, and crypto exchanges. While the service supports the use of bonds and Bitcoin as a combination of collateral for a single position, it cannot be used for repo transactions on the SIX exchange or as collateral for securities lending. Instead, it is designed to provide collateral solutions for OTC and bilateral crypto transactions. Initially, the service will support Bitcoin, Ethereum, Avalanche, Cardano, Solana, Ripple, and USDC, and plans to expand asset selection based on customer demand.