SIX takes stake in digital inheritance start-up PassOn AG

SIX Swiss Exchange

SIX – which owns and manages the Swiss stock exchange – has taken a minority stake in pre-ICO start-up PassOn AG as part of its strategy to build a digital asset custody ecosystem.

Following its announcement in July launching SIX Digital Exchange (SDX) to address the opportunities in the digital asset space, SIX today announced that it has taken a minority stake in PassOn AG, a Swiss start-up specialising in the transfer of digital assets as part of inheritances.

According to Valerio Roncone, Head Product Management & Business Development, Securities & Exchanges at SIX:

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.

As part of the investment by SIX, Roncone will become a Board Member of PassOn AG.

Stephan Wippermann, CEO, PassOn AG, commented:

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 token to leverage the SIX digital ecosystem.

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