Switzerland's Principal Stock Builds a Platform for Digital Assets
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Switzerland’s Principal Stock Builds a Platform for Digital Assets

Switzerland’s main stock has announced that is currently building a platform for trading and settlement of digital assets. The news came soon after government officials reportedly told they are working on helping crypto businesses open business accounts and avail other banking services.

SIX, the operator of SIX Swiss Exchange, announced Friday, July 6 that it is building an infrastructure for trading, custody, and settlement of digital assets. The exchange is completely regulated as a “Financial Market Infrastructure Operator” by Swiss Authorities, the Swiss FINMA (Financial Market Supervisory Authority), and the national bank. The company is building its new platform called SDX (Swiss Digital Exchange), and according to the company, the exchange will “enjoy the same standard of oversight and regulations”.

The company claims:

SIX Digital Exchange will be the first market infrastructure in the world to offer a fully integrated end to end trading, settlement and custody service for digital assets. The service will provide a safe environment for issuing and trading digital assets, and enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable.

Jos Dijsselhof, SIX exchange CEO, commented:

“This is the beginning of a new era for capital markets infrastructures. For us it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry.”

The official announcement made by the company doesn’t indicate whether the platform will support trading of cryptocurrencies. But, a few media outlets indicated that it will trade cryptocurrencies, including bitcoin.

However, the company later clarified in a tweet:

First we will enable the tokenization of bankable assets like stocks or bonds and, potentially, at a later stage non-bankable assets. Whether we will also make cryptocurrencies such as bitcoin or existing ‘ICO tokens’ available, is still open.

 

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