Stock Exchanges Go Crypto in Switzerland
Switzerland’s principal stock exchange, SIX, has announced that they are building a fully integrated trading settlement for digital assets.
The launch of the Swiss Digital Exchange
The company has commented that the Swiss Digital Exchange (SDX) will become the first digital market infrastructure with integrated trading, settlement and custody service for digital assets. The users will be able to tokenize existing securities and assets to make them tradable, even if they were untradeable before.
It is still remains uncertain if the platform will trade cryptocurrencies, but there have been publications from Financial Times and Business insider, mentioning that SIX will trade such cryptocurrencies as Bitcoin.
However, SIX wrote in a tweet that the question about cryptocurrency and ICO token trade remains still open.
Switzerland making a breakthrough in the crypto space?
Switzerland s now one of the few countries that have integrated cryptocurrencies into many sectors and services. The city of Zug has an area called the crypto valley, which is often referred to be derived from Silicon Valley.
This year, the country’s Ministry of Economy has mentioned that Switzerland should become a crypto nation in the nearest future. The country might be offering banking services to their crypto firms soon after frustrations over banks’ refusal have been often reported.
The crypto sphere is slowly taking over European countries, which might lead to more interesting changes in the near future.