Swiss Plan First End-to-End Exchange to Trade Digital Assets


SIX, the owner of Switzerland’s securities exchange in Zurich, is creating platform for trading digital assets, boosting a nascent industry that some countries are trying to suffocate. The new platform will offer a “fully integrated, end-to-end trading, settlement and custody service,” the world’s first to do so, the bourse said in a statement Friday. The parent exchange, regulated by Finma and the Swiss National Bank, intends that the new SIX Digital Exchange will enjoy the same standard of oversight and regulation.

Switzerland has been building a so-called crypto valley centered around the town of Zug, close to Zurich, while nearby Liechtenstein has also lured business offering favorable regulatory treatment. In contrast, India’s central bank has prohibited commercial banks from dealing with cryptocurrency firms, and China’s financial authorities have essentially banned virtual currencies…

Swiss Plan First End-to-End Exchange to Trade Digital Assets

Categories : Finance

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