The Swiss exchange, SIX, said today that it has obtained two licenses from the country’s market regulator to launch a stock exchange and depository for blockchain-based securities.
- Headquartered in Zurich, Switzerland, SIX Swiss Exchange is the country’s premier exchange that also trades certain securities such as government bonds and derivatives such as stock options.
- According to a CNBC report, the institution has received two licenses from the country’s regulator – the Swiss Financial Market Supervisory Authority (FINMA).
- This regulatory approval will enable SIX to operate the exchange and deposit for DLT-based securities.
- It will also have the ability to launch the regulated infrastructure of blockchain-based trading, settlement and custody.
- SIX failed to say when it intends to launch this digital exchange nor which assets it will list first.
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“This is an important milestone in bringing the digitization of capital markets into the mainstream, but it is just the beginning. We will continue to work with our clients, regulators and other stakeholders to shape the markets of the future.” – Thomas Zip, head of global stock exchanges at SIX commented.
- The organization’s attempts to obtain this approval date date back to 2019 when Zeb first hinted at it.
- Separately, SIX Exchange has already become the home of several cryptocurrency related products. CoinShares and 21Shares have launched several exchange-traded products to track the performance of assets such as Bitcoin, Ethereum, Litecoin, Solana, and more.
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