Biggest Swiss Stock Exchange to Launch Cryptocurrency Exchange
SIX, Switzerland’s biggest stock exchange, has announced plans to launch a “fully regulated” cryptocurrency exchange to serve the Swiss market by mid-2019.
In a press release published on July 6, SIX revealed plans for their new SIX Digital Exchange, or SDX, “a fully integrated trading, settlement and custody infrastructure for digital assets” that will offer a “fully integrated end to end trading, settlement and custody service.”
According to the press release, 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” and will be “mainly based on Distributed Ledger Technology (DLT).”
Switzerland is one of the most favorable countries in Europe for blockchain technology. Many cryptocurrency projects and initial coin offerings (ICOs) choose to conduct their business from Switzerland, especially from the “CryptoValley” of Zug.