Not so long ago quite positive news for crypto mining came from the Swiss Alps where miners will be provided with special conditions for conducting their activities in an environmentally friendly manner. And now Switzerland has made headlines once again.
This time we are speaking about SIX Group, the parent company of the Swiss stock exchange. SIX is working on building its new platform and is considering an opportunity to launch cryptocurrency trading on it. The platform is said to go online by mid-2019.
The new project called SIX Digital Exchange (“SDX”) represents itself a fully integrated trading, settlement and custody infrastructure for digital assets. Being fully regulated as an operator of Financial Market Infrastructure (FMI) by Swiss Authorities, FINMA and the Swiss National Bank, SIX is going to organize the activity of its digital asset ecosystem in full compliance with the same regulation.
SIX Digital Exchange is to become a really unique market infrastructure, the first of its kind in the world. SDX will provide its users with a fully integrated end to end trading, settlement and custody service for digital assets.
The service will offer a secure and fully reliable environment for issuing and trading digital assets, tokenization of existing securities and non-bankable assets which will help to make previously untradeable assets tradeable.
As it is known, SIX Group runs the main stock exchange in the country, but now, launching its new platform, it is going to enter the most rapidly developing sphere. The fully regulated platform will provide a wide range of services, including consulting for those ICOs that are not classified as securities.
Commenting their new initiative, SIX Group spokesman Stephan Meier said:
“Not only traditional financial service providers and investors are interested in this, but also numerous companies and investors who want to take advantage of the new digital opportunities for raising capital and trading in digital assets.”
Nevertheless, as it was informed, the complete list of products that would be offered is still to be defined. But nobody denies that it is possible that the new platform will offer cryptocurrencies trading.
“Currently we are focusing on building the platform and no decision has yet been made as to which specific products will be offered to list and trade. So it is also still open whether cryptocurrencies or already existing ICO tokens can be traded. But we will technically be able to add various digital assets to the platform,” added Meier. “It is also still open whether cryptocurrencies can be traded and how a conversion into fiat would be facilitated.”
According to Meier, the company is working on building a bridge between the traditional financial services and digital communities. SIX Group is closely collaborating with regulatory authorities with a view to not to omit something important from the legal point of view.