Swiss Stock Exchange Gets Regulatory Nod to Launch Digital Asset Exchange

Swiss stock exchange SIX has been given regulatory approval to launch an exchange and depository for digital assets.

• The SIX Digital Exchange (SDX) has been authorized by Swiss financial regulator FINMA to offer trading and custody of digital assets, according to an announcement Friday.
• Having first announced it was building an exchange for digital assets based on blockchain technology in July 2018, SIX has been granted two licenses from FINMA to operate a stock exchange and central securities depository (CSD). It appears to be the first major stock exchange to be starting its own digital asset exchange.
• “This is an important milestone in providing institutional investors with a safe and robust infrastructure meeting all of the core requirements of a traditional exchange and CSD infrastructure,” said Thomas Zeeb, SIX’s global head of exchanges and a member of its executive board.
• It is not clear yet exactly which digital assets will be supported, though SIX’s initial announcement three years ago made reference to tokenizing traditional securities.
• Having finally won FINMA approval, SDX will look to build the necessary ecosystem with liquidity for digital assets and onboard clients over the coming months.
• SDX hopes to appeal to banks, issuers, insurance firms and institutional investors.

Read more: 21Shares Launching World’s First Solana ETP on SIX Swiss Exchange

UPDATE (Sept. 10, 13:05 UTC): Updated with information in the second bullet point.