Deutsche Börse and Swisscom have <a href="https://www.deutsche-boerse.com/dbg-en/media/press-releases/Deutsche-B-rse-Swisscom-and-partners-successfully-settle-securities-transactions-via-tokens-in-Switzerland-1631516">completed</a> a successful proof of concept for settling securities transactions using distributed ledger technology (DLT); and the exchange of equity and cash tokens.

Moreover, Deutsche Börse officially announced on November 19 that a joint proof-of-concept (POC) involving several banks; participants exchanged money in the form of cash tokens against tokenized shares.

The PoC was between Falcon Private Bank, Vontobel and Zürcher Kantonalbank, the German exchange group and Swisscom. Deutsche Börse and Swisscom said the PoC lays the foundation for a leap in efficiency; in the settlement of legally binding securities transactions in shares of small and medium-sized enterprises.

Also, Deutsche Börse and Swisscom collaborated to design and develop the IT architecture; with the systems hosted on Swisscom’s infrastructure.The core elements were the digital share registry provided by Daura; and the application of Custodigit as a holistic solution for the custody and management of virtual assets. Furthermore, the participating banks provided significant requirements for the integration of the transaction into their respective banking processes. Additionally, law firms MME and Walder Wyss supported in the preparation of the underlying legal framework.
<h2>Blockchain to Reach new Heights of Speed and Efficiency</h2>
According to  John Höhener, Head FinTech, Swisscom:
<blockquote>“DLT has the potential to reach a new level of speed and efficiency in the financial services sector. In order to maintain Switzerland’s leading position in digital assets, cooperation and new platforms are needed. This proof of concept is an excellent example of successful collaboration and innovative strength across company boundaries.”</blockquote>
Also, Jens Hachmeister, Head of New Markets, Deutsche Börse Group said:
<blockquote>“It is of strategic importance for us to further develop the possibilities for settlement of securities transactions using DLT. This brings us one step closer to our goal of enabling the financial services industry in Germany and in Switzerland to efficiently use the potential of this new technology.”</blockquote>
In conclusion, the new initiative by Deutsche Borse and Swisscom sets another milestone in the existing <a href="https://www.cryptoknowmics.com/crypto/giant-chinese-bank-expands-blockchain-after-50-billion-transacted/">blockchain</a>-related partnerships between the companies. Earlier this year, Deutsche Borse Group and Swisscom collaborated with Singapore-based Signum to develop compliant financial market infrastructure for digital assets.

Deutsche Börse and Swisscom Successfully settles Securities using DLT

Deutsche Börse and Swissccom have completed a successful proof of concept for settling securities transactions using distributed ledger technology (DLT).. %

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Deutsche Börse and Swisscom Successfully settles Securities using DLT

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