The SIX Swiss Exchange has received regulatory approval to launch its long-awaited digital asset exchange. This authorization enables the exchange “to go live with a fully regulated, integrated trading, settlement and custody infrastructure based on distributed ledger technology for digital securities”.
Start of SIX Digital Exchange approved
SIX Digital Exchange (SDX) announced on Friday that it had officially received two licenses from the Swiss Financial Market Supervisory Authority (FINMA) to operate an exchange and a central securities depository for digital assets in Switzerland. The announcement states:
This authorization enables SDX to go live with a fully regulated, integrated trading, settlement and custody infrastructure based on distributed ledger technology for digital securities. With these licenses, SDX can now offer the highest Swiss supervisory and regulatory standards.
“The digitalization of financial markets is advancing, and although the final shape of the market is still developing, this is an important milestone in providing institutional investors with a secure and robust infrastructure,” said Thomas Zeeb, Global Head of Exchanges at SIX.
The company stated that it expects the platform to create a global digital asset exchange network with an international customer base that extends to banks, issuers, insurance companies and institutional investors.
SIX officials said the platform will start trading bonds first, noting stocks and exchange-traded funds (ETFs) could follow.
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