SIX Group, Owner of Swiss Stock Exchange, to Open Digital Assets Trading Platform
Jul 16, 2018, 4:06PM
by Tom Nyarunda
The new platform,Six Digital Exchange (SDX) will provide digital asset trading, settlement, and custody services together under one umbrella.
The operator of the Swiss Stock Exchange, SIX Group, announced that it will launch a digital assets exchange platform, dubbed SDX, by mid-2019. The new service will use blockchain technology to bridge fiat finance and the emerging world of cryptocurrencies.
The spokesperson of SIX Group, (Swiss Infrastructure and Exchange Group), Stephan Meier, told Swissinfo in an interview that the company is ready to add several digital assets to its platform. Meier clarified that SIX Group has not yet chosen the specific products to be listed and that each digital asset will go through a rigorous review process before adding it to the exchange. When fully launched; the service will offer a wide range of services including ICO project consultations.
Meier also added,
With the new service, we will provide a safe environment for issuing and trading digital assets and enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradable.
SIX, the parent company of Switzerland’s main stock exchange is owned by 130 banks. SIX is a regulated Financial Market Infrastructure (FMI) under Switzerland’s FINMA authority and SDX will operate under similar standards of regulation and oversight.
All Crypto Services Under One Umbrella
Stephan Meier emphasized the need to establish transparency and responsibility in the cryptosphere for the benefit of both companies and investors in the crypto industry. Currently, cryptocurrency exchanges use many third-party partners for different elements of their trading process. The SIX Group brings all those elements under one roof through SDX. A statement from the group says,
It will be the first market infrastructure in the world to offer a fully integrated end-to-end trading, settlement and custody service for digital assets.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.
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