In a really surprising move, the Swiss Stock Exchange has announced that they are planning to launch a cryptocurrency exchange solution that will allow settlement, trade, and custody of digital assets; all of this in conjunction with SIX, the banking fintech company that operates and owns the Swiss Stock Exchange. This would be the first time that an official stock exchange of a country features integral cryptocurrency services with normal stock operations.
SIX, the company behind the Swiss Stock exchange is a central infrastructure provider that acts as an information exchanger and a centralized settlement platform for banks, traders, and investors. Being in constant contact with the market and its movements, they have seen the opportunity of bringing cryptocurrency into the institutional world by offering themselves a trusty option for companies and institution to put money into the market of digital assets.
And there is also a benefit with them running a cryptocurrency exchange: being regulated as money transmitters and security brokers, they will be able to list normal cryptocurrencies and security tokens, a type of digital assets that would need special permission to be traded otherwise. These assets are mostly a product of Initial Coin Offerings companies, a type of crowdfunding venture that lets users invest in a platform and be rewarded with these coins.
Jos Dijsselhof, SIX’s CEO, said that there is an interesting opportunity for getting more institutions behind cryptocurrency with the benefit of investing in a regulated platform approved by the Swiss Government. He declared:
“THIS IS THE BEGINNING OF A NEW ERA FOR CAPITAL MARKETS INFRASTRUCTURES”
The services that the new SIX digital exchange will parallelize with traditional exchanges, bridging and equalizing traditional stock services with blockchain based ones; this means, that they will be giving the same grade of importance to both. They expect that this would open the doors for being one of the main crypto exchanges in the future and bring their ecosystem to be the main investing platform in Switzerland.