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Switzerland To Become A Crypto Nation: The World’s 14th Largest Stock Exchange Will Launch Crypto Exchange

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This is a massive milestone for the crypto space. A Swiss stock exchange is going to launch its very own crypto exchange platform, and this will be the first one of its kind in the world. SIX is a Swiss stock exchange that plans to build  a “fully integrated trading, settlement and custody infrastructure for digital assets.”

SIX Swiss Exchange was founded back in 1850, and it’s the parent of SIX Digital Exchange. It is regulated by Finma which is the Swiss financial supervisor and the Swiss central bank.

It’s also the world’s 14th largest exchange by market cap.

SIX Digital Exchange launches in 2019

SIX Digital Exchange is set to launch in 2019, and it will also enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable.

“This is the beginning of a new era for capital markets infrastructures. For us it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry,” said SIX CEO Jos Dijsselhof.

SIX Digital Exchange will require regulatory approval in order to pioneer a clear bridge between the traditional financial service and cryptos. This will lead to establishing Switzerland as a crypto nation.

The plan mirrors the efforts made by more large stock exchanges that are exploring the launch of a dedicated crypto exchange.

Back in April CEO Adena Friedman stated that hat Nasdaq “would consider becoming a crypto exchange over time.”

According to reports, Intercontinental Exchange, which owns the New York Stock Exchange, is also exploring the idea.

Goldman Sachs is building a crypto trading desk

Goldman Sachs is reportedly building a crypto trading desk, but it may only begin by offering derivatives, such as Bitcoin futures.

Derivatives fall under the jurisdiction of the U.S. Commodity Futures Trading Commission.

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