SIX, Switzerland’s stock exchange, has obtained regulatory approval to launch its long-waited digital exchange.
- The SIX Digital Exchange obtained two licenses from FINMA, the country’s markets regulator, to operate a stock exchange and depository for blockchain-based securities.
- SIX stated that it will be able to implement regulated trading, settlement, and custody infrastructure based on distributed ledger technology.
- The company stated its plans to provide stocks and bonds in the form of digital tokens once the new exchange is live. Thomas Zeeb, SIX’s global head of exchanges, hinted that the company could provide tokenized versions of exchange-traded funds and other assets.
- The digital exchange could offer a regulated alternative to cryptocurrency exchanges, many of which operate outside the guidelines of the established rules.
- Binance has faced various warnings and threats from authorities around the world. Coinbase also attracted the wrath of the U.S. Securities and Exchange Commission.
SIX Digital Exchange will continue to invest in developing its technology over the coming months. The company added it hopes to attract clients to launch its exchange network globally.
BTC USD down -2.42%, COIN down -1.29%Source: CNBC