In many ways the European country of Switzerland is leading the way in blockchain and crypto development. Major news emerged from the country today as it was announced that SIX – the operators of Switzerland’s stock exchange – are to open a dedicated and comprehensively regulated crypto exchange platform.
The SIX Digital Exchange (SDE) will be based on distributed ledger technology and is expected to launch in mid-2019. Rather than offering conventional trading of crypto, the SDE will focus on the digitization of assets using crypto and blockchain technology. The exchange will enable the tokenization of a range of assets, focusing first on existing bankable assets, then broadening the service to include non-bankable assets.
The platform is to be facilitated by an alliance of top-level organisations including the country’s Financial Market Supervisory Authority (FINMA) and the Swiss National Bank. Whilst this isn’t SIX’s first foray into blockchain – the exchange has offered a tradeable tracker certificate on Bitcoin since 2016 – today’s news represents a different level of investment, and as such is a hugely encouraging sign for those seeking reassurance that crypto’s future is secure.
SIX’s head of securities & exchanges Thomas Zeeb said he felt the platform could remove all of the key barriers preventing the mainstream and institutional adoption of digital assets. SIX, he said, would ensure “safety, security, stability, transparency and accountability” and provide the “integrated and secure model” that mainstream investors demand.
SIX CEO Jos Dijsselhof offered further reassurance for those in the wider international crypto community, saying that despite enormous losses in markets during 2018, it is “abundantly clear” that the crypto sector is “here to stay.” Dijsselhof went further to say that the SDE ushered in “a new era for capital markets infrastructures” and that the digital space will go on “to define the future of our industry.”
