On Friday, SIX – company owning and operating Swiss Stock Exchange made an announcement of planning to launch a Cryptocurrency Exchange – SIX Digital Exchange, which will be fully regulated. This shows their consistent interest in the crypto space.
The company announced that the new SIX Digital Exchange will be governed by the Swiss National bank and Swiss regulator FINMA. Switzerland is considered to be one of the most crypto-friendly countries in the world
The current crypto-market trend is all bearish with the most prominent cryptocurrency, Bitcoin, collapsing from a huge $20K to a mere $6K recently and this decision of SIX rises amidst this down signs, which certainly shows their concrete belief in the cryptocurrencies. To this, the CEO of SIX cited:
“This is the beginning of a new era for capital markets infrastructures,” Jos Dijsselhof, the CEO of SIX said in a statement. “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.”
According to Business Insider, The new Exchange is set to launch in the first half of the next year and will offer services like end-to-end trading, settlement, and custody service for digital assets such as bitcoin and ICO tokens.
Thomas Zeeb, head of securities & exchanges at SIX, said in a statement:
“The digital space currently faces a number of key challenges. These include the absence of regulation that ensures official safety, security, stability, transparency and accountability – all of which contribute to a lack of trust.”
Along with this, Zeeb also highlighted the issue of Digital asset custody which will be solved by SIX through its role as “a recognized and regulated infrastructure provider who provides all steps of the chain in an integrated and secure model.”
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