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>We want digital debt to be registered, issued, transferred, and eventually traded on our infrastructure.
Benedikt Schuppli, Co-Founder and Co-CEO of FQX

## Executive Summary
FQX is a Zürich, Switzerland-based fintech with great aspirations. They want to digitize company debt and this digital debt to be registered, issued, transferred, and eventually traded on their infrastructure.  

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>Promissory notes are known around the financial world. These instruments are fairly standardized. So, if you put this on a blockchain, you have an extremely powerful financing tool.
Benedikt Schuppli, Co-Founder and Co-CEO of FQX

## Startuprad.io | Linktree
>We believe, that in the future, a company will only have one basic financing instrument, a digital blockchain-based IOU. … That is what we offer with our eNotes
>Benedikt Schuppli, Co-Founder and Co-CEO of FQX

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>Much of the financial world is more complex than it needs to be. We believe in simplicity, decentralization, and digitalization.
>Benedikt Schuppli, Co-Founder and Co-CEO of FQX

## The Video Interview is set to go live on Thursday, June 2nd, 2022
Sorry, there was a technical glitch and we had to re-upload again. We are sorry about that.
```
<iframe width="560" height="315" src="https://www.youtube.com/embed/MNklhwFouSA" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
```

## The Audio Interview
You can subscribe to our podcasts [here](https://linktr.ee/startupradio).

```
<iframe style="border-radius:12px" src="https://open.spotify.com/embed/episode/2yfHLwL1kYjYXXKCnCikcJ?utm_source=generator&theme=0" width="100%" height="152" frameBorder="0" allowfullscreen="" allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture"></iframe>
```

## The Founder
This time we interview Benedikt Schuppli ([https://www.linkedin.com/in/benedikt-schuppli/](https://www.linkedin.com/in/benedikt-schuppli/)), a founder from Switzerland. He is the co-founder and co-CEO of FQX ([fqx website](https://fqx.ch/)), a fintech startup from Switzerland offering electronic IOUs. Benedikt is a lawyer by training but took his first job after graduating with a Swiss fintech pioneer named Lykke as Chief Legal Officer. He there realized he wanted to be an entrepreneur and co-founded a smart contract startup called Lexon.

## The Startup
FQX ([https://fqx.ch/](https://fqx.ch/)) is a blockchain startup based in Zurich, Switzerland. Their primary offering is the eNote. An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excels through its modularity and global transferability, based on a standardized legal framework. With this, eNotes can improve CeFi and DeFi-lending. Single eNotes are stored as NFTs on a blockchain. By issuing multiple eNotes as SFTs, an issuer can obtain financing in a way comparable to commercial papers. With this, they have set their sights on the 100 trillion US$ global bond market.

## Venture Capital Funding
Investors now include Earlybird Ventures, SIX FinTech Ventures and several business angels. They have raised 6.7 m US$ so far.

The startup is looking for another fundraising in 2022 — at the time of the interview (March 2022).

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https://medium.com/startuprad-io/fqx-brings-companies-debt-funding-to-the-blockchain-83c8528515a3

FQX is a Zürich, Switzerland-based fintech with great aspirations. They want to digitize company debt and this digital debt to be registered, issued, transferred, and eventually traded on their infrastructure.

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FQX Brings Companies’ Debt Funding to the Blockchain

The transaction was executed using a Fireblocks custody wallet. The principal was provided by a Swiss investment firm and secured with smart contract-based collateral denominated in Solana (SOL). For delivery-versus-payment and collateral management, FQX’s decentralized escrow programs were used. The transaction was initiated using FQX’s Telegram program.

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An eNote is a blockchain-based debt instrument recognized globally and used for a broad variety of financing purposes. By providing a legal layer for decentralized financing, FQX eNotes ensures legal certainty and optimizes the loan-to-value ratio in the massively overcollateralized decentralized finance space. Via Wallet Connect’s Solana gateway to Fireblocks, the latter’s customers can sign and issue transferable debt instruments in seconds using FQX’s eNote decentralized app (DApp).

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“Digitization has been transforming traditional asset classes for over twenty years, with tokenization being the next phase of the evolution,” said Richard Astle, head of the Switzerland and Middle East sector at Fireblocks. “Prolonged manual processes, limited secondary market liquidity and mostly bilateral settlements offer a number of areas in debt markets, which can be improved by blockchain and smart contracts. Through tokenization, investors are able to participate with smaller transaction sizes than traditional debt issuance, making it much more accessible to the broader market. We’re proud to support new innovations such as FQX’s eNotes with Fireblocks’ technology so that more traditional assets can benefit from blockchain’s transparency, security and speed.”

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The transaction marks the beginning of eNotes on Solana and will help Babel Finance widen its funding sources. For traditional financial institutions that intend to invest in crypto assets, this innovative fixed-income crypto-financial product is an investment channel with returns and risks.

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“We are very excited about the launch of this innovative product and very optimistic about the market prospects for crypto note and bond products using FQX’s eNotes,” said Yulong Liu, partner of Babel Finance. “Babel Finance will continue to leverage our strengths in product innovation and work with our partners to expand this market.”

&nbsp;  
Benedikt Schuppli, co-CEO of FQX, said, “With eNotes on Solana [and] accessible via Fireblocks, we [can] drastically reduce the economic distance between borrowers and lenders in a cross-border setting and make financing, overall, radically easier.”

## About Fireblocks
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets. Fireblocks allows exchanges, lending desks, custodians, banks, trading desks and hedge funds to securely scale digital asset operations through the Fireblocks network and multiparty computation-based wallet infrastructure. Fireblocks serves more than 800 financial institutions, has secured the transfer of $2 trillion-plus in digital assets and has a unique insurance policy covering assets in storage and transit.

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For more information, visit [fireblocks.com](https://fireblocks.com).

## About Babel Finance
Babel Finance is a global leading crypto financial services provider offering institutional and high-net worth investors professional services in crypto lending and crypto trading. The company is backed by prominent investors, including Sequoia Capital China, Tiger Global Management, Bai Capital, Zoo Capital, Dragonfly Capital and NGC Ventures. Babel Finance has established close, cooperative relationships with major global exchanges, custodians, investment funds and mining institutions.

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For more information, visit [babel.finance](https://babel.finance).

## About FQX
FQX is a born-global startup headquartered in Zurich, Switzerland focused on building the lending infrastructure for Web3. FQX employs more than 20 people in Europe and Asia and garnered attention in 2021 by winning the Swiss Fintech and Fintech Germany awards in its respective categories. FQX is backed by notable technology investors, including Six Fintech Ventures and Earlybird Venture Capital.

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For more information, visit [enotes.tech](https://enotes.tech).

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Social media links:

LinkedIn: /fqx-ltd

Twitter: @fqx_ag

Telegram: @fqxcommunity

&nbsp;  
[https://cointelegraph.com/press-releases/babel-finance-issues-collateralized-usdc-note-on-fqxs-solana-dapp](https://cointelegraph.com/press-releases/babel-finance-issues-collateralized-usdc-note-on-fqxs-solana-dapp)

Zurich, May 19, 2022 — Babel Finance, a leading global crypto financial services provider, announced today that it has successfully issued the first collateralized USD Coin (USDC) note via eNotes, a smart contract-based global debt instrument provided by blockchain startup FQX AG, for its Solana environment.

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Babel Finance used collateralized eNote on FQX’s Solana dApp via Fireblocks

Mr. Freis draws upon his experience from the public and private sectors in Europe, the United States, and globally, to promote the integrity of the financial markets and advise on FinTech innovations. From 2014 through 2020 he served as Managing Director and Group Chief Compliance Officer for the Deutsche Börse Group, the international financial markets infrastructure provider based in Frankfurt, Germany. In June 2020, he was appointed to the management board of the German payment services provider Wirecard, where he promptly uncovered internal fraud, was appointed CEO, and initiated a global restructuring. From 2007 to 2012, Mr. Freis was Director (CEO) of the United States Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), the lead U.S. Government official overseeing anti-money laundering regulation and also the country’s Financial Intelligence Unit (FIU). From 1999 through 2005 he was based in Basel, Switzerland as Senior Counsel to the Bank for International Settlements, supporting investment of monetary reserves, as well as the international financial standard setting bodies. He received his Juris Doctor from Harvard University, a degree in Economics from Georgetown University, and is a Chartered Financial Analyst (CFA) charterholder.

FQX is a blockchain startup based in Zurich, Switzerland. Their primary offering is the eNote. An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excel through their modularity and global transferability, based on a standardized legal framework. With this, eNotes can improve CeFi and DeFi-lending. Single eNotes are stored as NFTs on a blockchain. By issuing multiple eNotes as SFTs, an issuer can obtain financing in a way comparable to commercial papers.

&nbsp;  
James Freis, commented: “I am pleased to help guide FQX in applying innovative technology together with an internationally recognized foundation in law to deliver concrete products, which I have found truly differentiates the FQX founders from other good thinkers who nonetheless are still struggling to articulate specific use cases.”

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Benedikt Schuppli, FQX’s Co-CEO stated: “We’re honored to have James Freis join our team. With his unique combination of skills at the intersection of regulation, financial market infrastructure and technology he is ideally positioned to work on FQX’s RegTech Engine to enable programmable debt securities and compliance by design.”

&nbsp;  
## About FQX
FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building a global lending infrastructure for Web 3.0FQX employs more than 20 people in Europe & Asia. FQX has garnered attention in 2021 by winning the Swiss Fintech and the Fintech Germany Awards in its respective categories. FQX is backed by notable Fintech investors, among them SIX Fintech Ventures & Earlybird VC.

&nbsp;  
[https://finance.yahoo.com/news/blockchain-startup-fqx-announces-appointment-070000843.html](https://finance.yahoo.com/news/blockchain-startup-fqx-announces-appointment-070000843.html)


Zurich, Switzerland (May 5, 2022) – Blockchain startup FQX, known for their eNote, a blockchain-based debt instrument, has appointed James H. Freis, Jr. as their new Regulatory Technology Officer.

Blockchain Startup FQX announces the appointment of James Freis, Former Director of FinCEN, as Regulatory Technology Officer to Compose Programmable Debt Offerings

The major challenge might be international policy coordination and coherence. Uneven deployment due to regulatory fragmentation could result in unintended consequences of unequal growth, threats to cybersecurity and a growing trend in technonationalism. This publication identifies the building blocks for TradeTech policy adoption: the 5 Gs of TradeTech. Trade agreements and plurilateral initiatives are exploring the interplay between technology and trade and can benefit from considering these blocks to drive global adoption and scalability.

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Download the World Economic Forum & World Trade Organization Report by clicking on the below link:
[https://www.weforum.org/reports/the-promise-of-tradetech-policy-approaches-to-harness-trade-digitalization](https://www.weforum.org/reports/the-promise-of-tradetech-policy-approaches-to-harness-trade-digitalization)

TradeTech adoption is moving fast, largely driven by the private sector. But leveraging technologies for trade requires more than innovation: trade policy must keep pace.

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The promise of TradeTech: Policy approaches to harness trade digitalization

The business model canvas is a central part of the entrepreneurship process, with advocates arguing that it’s a key visual guide to help you communicate your idea and flesh out your thoughts. Of course, critics, such as Steve Blank himself, argue that business plans are often a waste of time and largely demanded by investors, who in turn will largely ignore what you produce.

&nbsp;  
## Organizational structure
The INSEAD paper suggests that the focus on the business model also prompts entrepreneurs to place more emphasis on the idea itself and less on the business, and especially its structure. In the startup world, there is an unmistakable emphasis on speed, with minimum viable products designed to test the proposition, and pivots rapidly undertaken to integrate one’s learning into future iterations.

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This haste can prompt entrepreneurs to overlook basic organizational questions, such as how the work will be divided, who will actually perform the work, and how team members will be motivated. In many startups, there is a tendency towards bootlegging these vital tasks and hoping that it will all fall into place in the end.

&nbsp;  
“The spirit of decentralization is in the DNA of what we do,” says Benedikt Schuppli, cofounder and co-CEO of fintech startup [FQX](https://fqx.ch/). “Our vision is to build the decentralized debt infrastructure for the future of finance, and so we really wanted this to be reflected in the way our team is structured and operates. Indeed, with team members operating in 6 different time zones, this decentralized, multi-national approach was key to get the best out of our people, while also enabling a single, globally standardized financing instrument to be developed.“

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The paper shows that this is the dominant outcome for many startups today, with far more thought and attention given to business models than to organization design. Instead, any thoughts of organizational design are typically wrapped up in popular buzzwords such as building an agile or flat organization, which usually translates as chaotic.

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## Forced hand
The authors explain that this often continues until such a point as investors get involved. This is when managers are often forced upon the founders to try and whip their organizations into shape. Perhaps the best example of this was former Google CEO Eric Schmidt, who joined the firm a few years after it was founded and was hugely responsible for the commercial behemoth it subsequently became.

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The researchers conducted detailed examinations of eight early-stage startups over an 18-month period. This analysis included numerous visits to the premises of each business to explore how they worked, the layout of their office, the language used when communicating, and various other aspects of organization design.

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The analysis revealed that all eight of the companies had implemented a basic form of organization design covering task division, task allocation, reward provision, information exchange, and problem resolution. Few of these designs had been consciously planned, however, with many simply implementing what felt instinctive or natural, with many utilizing approaches outlined in the Lean Startup methodology, which obviously places significant emphasis on soliciting feedback from customers and refraining from any kind of structure that goes against the notion of agility.

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Indeed, just two of the founders were able to articulate any real logic behind their organizational structure, albeit with both describing a largely ad hoc and emergent structure.

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## Changing picture
With the researchers in-situ for 18 months, they were also able to determine any changes to the business, whether in terms of their business model or their organizational structure. In total, they found 121 incidents related to either of these factors that resulted in the company changing tact in terms of its organizational design in at least one of the five dimensions mentioned earlier.

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Most of these changes were at beast incremental and at worst myopic, however. For instance, in the vast majority of cases, three dimensions or fewer were modified, which undermines the very notion that all elements of organizational design are connected and interdependent.

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Often, these changes would coalesce around whatever was cheapest and quickest. A common thread among the entrepreneurs was to try and solve problems with as little effort as possible., even if this ultimately fails to tackle the underlying problem.

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## Lack of focus
This obviously underlines the lack of real focus given to organizational design by the founders, who mostly tried to wing it and rely on their instincts to structure their businesses.

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Suffice to say, this isn’t a great strategy when it comes to creating a scalable and successful business. According to the researchers, the first step to rectifying matters is to take the matter seriously. From there, you can utilize an organization design canvas, which operates in a similar way to a business model canvas but allows entrepreneurs to think systemically about the key issues affecting the operations of their business.

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It’s well established that firms will struggle to grow without a good business model, but the INSEAD paper reminds us that organizational design is equally important, as it’s unlikely that even the best business models will succeed without the right organization to deliver them. It’s high time that founders focus on both if they want to succeed.

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[https://www.forbes.com/sites/adigaskell/2022/03/24/entrepreneurs-need-to-focus-as-much-on-organization-structure-as-business-model/?sh=21059a8421f4](https://www.forbes.com/sites/adigaskell/2022/03/24/entrepreneurs-need-to-focus-as-much-on-organization-structure-as-business-model/?sh=21059a8421f4)

Working on the business model is a fundamental part of pretty much every “lean startup” program, which makes it a fundamental part of pretty much every accelerator and incubator. Research from INSEAD reminds us, however, that simply having a good business plan is not sufficient to make a startup a success.

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Entrepreneurs Need To Focus As Much On Organization Structure As Business Model

## Co-CEO Stephan D. Meyer Profile
- He wrote the first Swiss PhD dissertation on tokenization (received the famous Issekutz price)
- He is leading the blockchain law education program at University of Lucerne, and teaches at ZHAW & HWZ
- He is attorney and counsel with MME’s crypto team
- He is active in international bodies and associations like UCL Centre for Blockchain Technologies and thinkBLOCKtank
- He is Co-Founder of FQX, a SIX-financed, fast growing Swiss DLT startup
- Besides tokenization, his main field, he is working together with some of the leading DeFi companies on bringing legal governance layers into DAOs.

&nbsp;  
## CTO Daniel Killenberger Profile
- He worked in Startups during ICO times to build the backend service for the ICO page.
- Worked at Swiss contractor to deliver prototype for the SBB and deliver features for the banking module product.
- He started coding at the age of 12, and got into crypto as a revolutionary idea back in 2012.
- He joined FQX back in 2019, and is now the CTO.

&nbsp;  
[Episode 337: Stephan Meyer and Daniel Killenberger, Co-CEO and CTO of FQX AG](https://www.aroundthecoin.com/podcast/episode-337-stephan-meyer-and-daniel-killenberger-co-ceo-and-cto-of-fqx-ag)

In this episode, Mike Townsend speaks with the Co-CEO Stephan D. Meyer who is one of the leading Swiss tokenization experts and the CTO Daniel Killenberger who studied Computer Science with a focus on AI, specifically Classical Planning Algorithms.

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Podcast: Around the Coin. Episode 337: Stephan Meyer and Daniel Killenberger, Co-CEO and CTO of FQX AG

So, if 2020 was the year of DeFi, 2021 the year of NFTs, 2022 could be the year of STOs. Join us on the 17th of March at 18:00 for a fireside discussion with industry leaders in the space pioneering this potential new wave of blockchain adoption.

&nbsp;  
Our guests will include:
- [Stephan Meyer](https://www.linkedin.com/in/stephandmeyer/), Co-Founder of FQX
- [Patrick Stettler](https://www.linkedin.com/in/patrick-stettler/), Head Sales EMEA of SDX
- [Claus Skaaning](https://www.linkedin.com/in/clausskaaning/), CEO of DigiShares
- [Milko Hensel](https://www.linkedin.com/in/milko-hensel-41a9241/), Head of Digital Partnership of Maerki Baumann

&nbsp;  
The Crypto Valley Association’s very own Co-Executive Director & Head of Business Development, Sheraz Ahmed, will moderate the session. Feel free to reach out to him if you would like to submit any questions in anticipation for this long-awaited event.

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We’re looking forward to e-meeting  you!

[https://members.cryptovalley.swiss/events/82139](https://members.cryptovalley.swiss/events/82139)



With an ever growing need to protect consumers and minimise investment risk whilst not restricting innovation, tokenization and security tokens are becoming an ever more important topic of conversation!

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Tokenization, the next wave of mass adoption?

Swiss-based FinTech company CLST led the successful transaction between Amber Group and an undisclosed counterparty. The underlying asset, a USDC stablecoin issued on the Algorand Blockchain (commonly referred to USDCa), was settled Peer-to-Peer and is based on an electronic promissory note (eNote), a technology provided by FQX which is seamlessly integrated into CLST. The multi-million USDC stablecoin loan was borrowed by Amber Group at a Fixed Term and with a contract duration of less than a year.

&nbsp;  
An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excel through their modularity and global transferability, based on a standardized legal framework. Single eNotes™ are stored as NFTs on a blockchain. By issuing multiple eNotes™, an issuer can obtain financing in a way comparable to commercial papers.

&nbsp;  
The uncollateralized transaction marks a significant milestone in institutional crypto asset lending by solving the problem of over-collateralization. Borrowers are routinely forced to pledge an amount of collateral that exceeds the value of the loan to mitigate the risk of cryptocurrency price fluctuations. This impediment is holding back the development of borrowing and lending in the crypto asset industry.

&nbsp;  
Overcoming this obstacle, whilst keeping risk at manageable levels, will finally allow institutions to unlock the full potential of a maturing short-term debt market as TradFi and DeFi converge.

&nbsp;  
Counterparty risk is mitigated by the innovative use of electronic promissory notes, a tried and tested method of providing lenders with a globally enforceable legal provision in the event of loan defaults.

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Lack of institutional-grade infrastructure in lending and borrowing

&nbsp;  
“Currently, the institutional short-term debt market for stablecoins and crypto assets is heavily underserved due to a lack of large-scale lending and borrowing infrastructure that reduces counterparty and DeFi protocol risks. We are doubling down on the vision to connect every institution, from market makers, to treasuries, foundations, family offices or hedge funds, through a single communications venue,” says Michael Guzik, Founder and CEO of CLST.

&nbsp;  
“As a leading digital asset platform, Amber Group helps its clients to access liquidity, earn yield, and manage risk across crypto assets. As an institution with a global footprint, access to broad networks of lenders and borrowers, are therefore essential to Amber’s trading activities and liquidity management. Michael and the team behind CLST will make uncollateralized lending and borrowing more efficient through the aggregation of deal flow and we are excited to be part of this global network at the very beginning of a new future for crypto assets in the market,” says Francesco Adiliberti, Managing Director for Europe at Amber Group.

&nbsp;  
## About CLST

&nbsp;  
CLST is the institutional communications venue to lend or borrow stablecoins and crypto assets, automating multi-dealer price negotiation and price matching for institutional traders. CLST Markets integrates next generation products such as “Request-for Quote” (RFQ), “Fixed Term”, “Call Money”, institutional DeFi protocols, blockchain-based electronic promissory notes and wallet connectivity for automated settlements. CLST aims to resolve market uncertainties and scaling issues in uncollateralized and collateralized lending and borrowing of stablecoins and crypto assets. For more information, please visit www.clst.com.

&nbsp;  
*Disclaimer: CLST borrowing and lending capabilities and products of stablecoins and crypto assets are not yet available in the United States.

&nbsp;  
## About Amber Group

&nbsp;  
Amber Group is a leading digital asset platform operating globally with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber is backed by prominent investors including Sequoia Capital, Tiger Global Management, Paradigm, and Coinbase Ventures. For more information, please visit www.ambergroup.io.

&nbsp;  
## About FQX

&nbsp;  
FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building the global debt infrastructure for the future of finance using blockchain technology. FQX employs more than 20 people in Europe & Asia. FQX has garnered attention in 2021 by winning the Swiss Fintech and the Fintech Germany Awards in its respective categories. FQX is backed by notable Fintech investors, among them SIX Fintech Ventures & Earlybird VC.

&nbsp;  
For more information, please visit [enotes.tech](https://enotes.tech).

Media Contact Stella Wang [pr@ambergroup.io](mailto:pr@ambergroup.io)

Alex von Mühlenen [alex.vm@clst.com](mailto:alex.vm@clst.com)

Jörg Röthlisberger [info@glt-communications.ch](mailto:info@glt-communications.ch)

[https://www.bloomberg.com/press-releases/2022-02-17/amber-group-executes-world-s-first-crypto-loan-on-clst-markets-via-an-enote-by-fqx](https://www.bloomberg.com/press-releases/2022-02-17/amber-group-executes-world-s-first-crypto-loan-on-clst-markets-via-an-enote-by-fqx)

Zurich, Switzerland- (Newsfile Corp. – February 17, 2022) – CLST Markets, an institutional-only lending and borrowing venue for stablecoins and crypto assets, announced today that it has successfully facilitated an uncollateralized multi-million USDC stablecoin loan executed by Amber Group for the first time today. The fixed-term transaction was executed in the form of the first electronic promissory note for a stablecoin issued on the Algorand Blockchain.

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Amber Group Executes World’s First Crypto Loan on CLST Markets Via an eNote by FQX

Today’s short-term financing markets are vast with an estimated $65tn+ in annual transaction volumes globally. Due to legacy systems and a lack of global standardization, these markets are widely fragmented and inefficient, causing liquidity silos.

&nbsp;  
FQX’s infrastructure for a standardized, digital debt instrument, the eNoteTM, in combination with SDX’s digital financial market infrastructure, work hand in hand to break these silos. Thus, locked up liquidity is released while trust and transparency are enhanced.

&nbsp;  
An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excel through their modularity and global transferability, based on a standardized legal framework. Single eNotes are stored as NFTs on a blockchain. By issuing multiple eNotes, an issuer can obtain financing in a way comparable to commercial papers.

&nbsp;  
“Bringing eNotes on to SDX is a crucial step for FQX on our mission to creating the global debt infrastructure for the future of finance, allowing institutional investors to directly access eNotes via their custody banks”, said Benedikt Schuppli, Co-Founder & Co-CEO of FQX.

&nbsp;  
“As the world’s first fully regulated and fully integrated securities settlement and custody platform to trade, settle and custodise digital assets we at SDX we have built the strongest and safest foundation upon which to build a global liquidity network for digital assets. The network will be built by establishing strategic partnerships with providers such as FQX. SDX’s collaboration with FQX thus represents a key step in the building out of our ecosystem by providing trading, settlement and custody of FQX eNotes on SDX”, said David Newns, Head of SIX Digital Exchange.

&nbsp;  
## About FQX
FQX is a born-global start-up headquartered in Zurich, Switzerland. FQX is building the global debt infrastructure for the future of finance using blockchain technology. FQX employs more than 20 people in Europe & Asia. FQX has garnered attention in 2021 by winning the Swiss Fintech and the Fintech Germany Awards in its respective categories. FQX is backed by notable Fintech investors, among them SIX Fintech Ventures & Earlybird VC.

&nbsp;  
[https://www.sdx.com/news/fqx-and-six-digital-exchange-collaborate-blockchain-based-short-term-debt-instruments](https://www.sdx.com/news/fqx-and-six-digital-exchange-collaborate-blockchain-based-short-term-debt-instruments)


15 February 2022
Switzerland’s SIX Digital Exchange (SDX), the world’s first fully FMI licensed digital asset exchange, and FQX, a SIX Fintech Ventures portfolio company, have agreed to collaborate to enable the use of FQX’s blockchain-based short-term debt instruments, eNotes™, on SDX.

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