SDX Adopts DTI Standard To Streamline Digital Asset Adoption

by Nik Asti

Published: August 21, 2023 at 8:56 am Updated: August 21, 2023 at 8:58 am

by Victor Dey

Edited and fact-checked: August 21, 2023 at 8:56 am

In Brief

SDX sets industry standard with the adoption of the Digital Token Identifier standard for all its services.

SDX Adopts DTI Standard To Streamline Digital Asset Adoption

In response to evolving financial trends, SDX announced it has adopted the Digital Token Identifier (DTI) standard, signaling a shift in the digital assets domain.

SDX, a private DLT-based financial company, has integrated the ISO 24165 DTI standard under the guidance of The Digital Token Identifier Foundation (DTIF). According to the company, this identifier will serve as the foundation for digital ledgers, tokens, and cryptocurrencies.

Reinventing Regulatory Oversight

The DTI offers regulatory authorities a vantage point for streamlining their observation of digital asset trades. Beyond mere surveillance, it aims to fortify checks against money laundering and counter-terrorism financing.

The European Securities and Markets Authority (ESMA) also acknowledges the DTI, and has incorporated that same — within its DLT Pilot program.

SDX said that its platform combines digital asset trading, settlement and custody. The platform’s “atomic settlement” approach synchronously enables trade execution, securities transfer and payment convergence.

Alex Kech, business head of digital securities at SDX, underscored the pivotal role of DTIs in identifying a spectrum of digital assets.

We are pleased to announce #SDX becomes the first private #DLT based financial market infrastructure to adopt The Digital Token Identifier Foundation managed ISO 24165 DTI standard.

The #financialindustry is increasingly adopting the DTI ISO standard, a unique identifier for… pic.twitter.com/jnfarB2TUg
— SIX Digital Exchange (@SDX_global) August 16, 2023

Universal Digital Identification

SIX Digital Exchange (SDX) said that it underpins its operations within the Swiss legal standards to ensure quality and security. The company emphasized that it focuses on client protection, transparency, and robust governance.

Under the Etrading Software wing, DTIF will be providing unique identifiers to digital tokens based on the latest ISO standards, and has already assigned codes to over 1,400 frequently traded digital assets.

“We are delighted to issue a DTI to SDX’s DL and welcome SDX’s adoption of the DTIs in their platform. This is another important landmark for the industry to be able to identify digital assets in a standardized way,” said Sassan Danesh, CEO of Etrading Software, in a written statement.

Read more:

Tags:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti