SIX Swiss Exchange Proposes To Build Fully Integrated Blockchain Trading Platform

Switzerland’s principal stock exchange SIX Swiss Exchange is proposing to build a fully integrated, blockchain-based end-to-end trading, settlement and custody service for cryptocurrencies.

SWISS-Exchange-Blockchain-Trade

The SIX Digital Exchange (SDX), the new platform, will be supervised by the Swiss Financial Market Supervisory Authority and the Swiss National Bank when it launches in 2019. SIX claims that it will grant a secure environment for issuing and trading digital assets, and allow the tokenization of existing securities and non-bankable assets to make before untradeable assets tradeable.

Despite the fall in the value of cryptocurrencies and decreasing volumes since the start of the year, the choice to launch the platform still proceeds.

The CEO of SIX Jos Dijsselhof also claimed that:

“[Crypto] space is here to stay and will define the future of our industry.”

The Head Securities & Exchanges of SIX Thomas Zeeb noticed that as of now the crypto space is encountering plenty of challenges, for instance, the absence of regulation that ensures official safety, security, stability, transparency, and accountability – all of those add to a lack of trust, he said.

On the other hand, Zug declares itself as the heart of “crypto valley” and has been drawing the attention of many crypto startups with favorable tax and regulatory environment.

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