Switzerland’s principal stock exchange has announced that it is building a platform for the trading, settlement, and custody of digital assets. This announcement follows reports of government officials working on giving crypto businesses access to banking services.
Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space
SIX Launching Digital Exchange
SIX, the operator of Switzerland’s principal stock exchange, SIX Swiss Exchange, announced Friday that it “is building a fully integrated trading, settlement and custody infrastructure for digital assets.”
The SIX exchange is fully regulated by Swiss Authorities, the Swiss Financial Market Supervisory Authority (Finma) and the Swiss National Bank, as a Financial Market Infrastructure operator. The company plans for its new platform, called Swiss Digital Exchange (SDX), to “enjoy the same standard of oversight and regulation.”
Citing that SDX will bridge “the gap between traditional financial services and digital communities,” 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.
SIX CEO Jos Dijsselhof 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.”
Will the Platform Trade Bitcoin Directly?
While the official announcement by SIX does not mention whether the platform will support the direct trading of cryptocurrencies, a few publications indicated that it will trade bitcoin and other cryptocurrencies.
Business Insider
