Main Swiss Stock Exchange to Launch Distributed Ledger-Based ‘Digital Asset’ Exchange | Crypto News
Switzerland’s principal stock exchange SIX announced today, July 6, that it will open a “fully-regulated” cryptocurrency exchange next year.
In an official press release, SIX confirmed it would use so-called distributed ledger technology (DLT) –– of which blockchain is one type –– to build what they are dubbing a “digital asset ecosystem,” Six Digital Exchange (SDX) to “put banks at the heart of transactions in the digital space.”
SIX already hosts local bank Vontobel’s Bitcoin exchange-traded note (ETN), with further integration of digital assets widely expected prior to today’s announcement.
“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,” SIX CEO Jos Dijsselhof commented, adding:
“The financial industry now needs to bridge the gap between traditional financial services and digital communities.”
SDX plans to become “a fully integrated trading, settlement and custody infrastructure for digital assets” which it claims will be the world’s first to “offer a fully integrated end to end trading, settlement and custody service” upon launch in mid-2019.
The move has already caught the attention of the cryptocurrency industry, cryptocurrency pioneer and Blockstream CEO Adam Back referring to SDX as SIX’s own “Bitcoin exchange.”
This week also saw Europe’s largest exchange-traded fund (ETF) hoster, the Netherlands’ Speed Trader, announce it was moving into the cryptocurrency arena, despite reservations from the country’s financial regulator.