SIX has taken a minority stake in a digital inheritance start-up.
As part of its strategy to build a digital asset custody ecosystem, SIX has taken a minority stake in PassOn AG, a Swiss start-up specialising in the transfer of digital assets as part of inheritances. As part of the investment by SIX, Valerio Roncone, Head Product Management & Business Development, Securities & Exchanges at SIX, will become a Board Member of PassOn AG.
Seamless transfer of digital assets
Valerio Roncone comments: “The challenge in the digital asset space is to ensure clean, transparent and legally binding title to the assets between parties. This requirement is identical for counterparties who are exchanging assets whether they are living or deceased. The Distributed Ledger-based solution developed by PassOn will help enable such asset transfer seamlessly.”
Stephan Wippermann, CEO, PassOn AG, added: “We aim to leverage the latest Blockchain and Smart Contract technologies to bring inheritances into the digital age. We are preparing our ICO to fund the development of our digital estate planning and inheritance platform. In parallel, we will explore how to use SDX offerings such as listing or secure storage of the PassOn AG coin to leverage the SIX digital ecosystem.”
Introducing SIX Digital Exchange
In July, SIX had announced launching SIX Digital Exchange (SDX) to address the opportunities in the digital asset space.PassOn is a Swiss startup for asset transmission and storage on blockchain. Using the latest technologies, PassOn works closely with regulators, established market players and lawmakers capable of building a new global standard.