Deployments · platform by SIX

SIX Digital Exchange tokenised shares in a regulated CSDUpdated 28 Oct 2026

SIX Digital Exchange's DLT-based central securities depository holds tokenised shares of private companies as dematerialised intermediated securities under Swiss law, starting with F10 shares registered via Aequitec in 2022. Citi uses the CSD to tokenise, settle and safekeep late-stage pre-IPO equities. In 2025 SIX moved SDX trading onto SIX Swiss Exchange and folded settlement and custody into its post-trade division, while the CSD continues.

Live (limited) since Jul 2022^[1]i — Private-company shares only; no volumes found. · Reviewed today i

Assets

Equity^[1]

Private company shares held as intermediated securities on the CSD ledger

Networks

SIX digital assets ledger Private, permissioned^[1]

Use cases i

Primary issuance^[1]

Jurisdictions

Switzerland

Participants

• SIXPlatform provider, Operator, Depositary or trustee^[1]Switzerland
• F10Issuer^[1]Switzerland
• AequitecTransfer agent or registrar^[1]Switzerland
• CitiCustodian, Distributor^[2][4]United States
• SygnumDistributor^[4]Switzerland
• SBI Digital MarketsDistributor^[4]Singapore

Operates under

• FINMA licences for SIX Digital Exchange AG (central securities depository) and SDX Trading AG (stock exchange)Switzerland · Licence or charter^[3]

Likely relevant regulation i

• Swiss DLT Act (Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology)Switzerland

Timeline

1. Happened Oct 2025 (month only) · Status change · recorded 11 Oct 2026
   SIX retires the SDX brand, moving digital asset trading to its main exchange and settlement and custody to its post-trade division; projects including Citi's pre-IPO equity work move to SIX.^[2]
2. Happened Jul 2022 (month only) · First transaction · recorded 11 Oct 2026
   F10 shares become the first equity tokenised in a fully regulated DLT-based CSD, with Aequitec as share registry.^[1]

Sources i