SIX Digital Exchange will work like clockwork

SIX, the operator of the Swiss stock exchange, has announced its plans to launch SIX Digital Exchange, a cryptocurrency exchange fully regulated by the financial regulator and central bank.

On Friday, the operator of the Swiss stock exchange SIX announced the launch of a new cryptocurrency initiative, which, according to it, “will be the first market infrastructure in the world to offer deposit and trading services for digital assets.” The platform, called SIX Digital Exchange (SDX), will facilitate the tokenization of clients' existing assets, as well as provide services for issuing their own trusted cryptocurrencies.

“The new digital exchange will allow SIX clients to trade and store digital assets in the same way as in the traditional financial industry,” said Thomas Zeb, Head of Exchanges and Securities. He further emphasized that the platform “will operate under the traditional Swiss regulatory framework” of FINMA, the Swiss financial regulator, the Swiss National Bank, the country's central bank.

“This is the beginning of a new era for capital markets infrastructures,” said SIX chief executive Jos Disselhoff, announcing that the exchange would launch in mid-2019. "It is clear to us that events taking place in the world of cryptocurrencies will determine the future of this industry. The Swiss financial industry must help the cryptocurrency community gain access to traditional financial services. SIX will also help clients sell their own tokens through initial coin offerings."

In addition, the operator noted that the platform will not offer direct trading services for Bitcoin or Ethereum, but will instead help ease the transition of traditional financial market participants into the new sphere by tokenizing them banking and non-banking assets.