Swiss Stock Exchange Launches Digital Currency Platform
BTC Wires: The Swiss Stock Exchange has launched its very own cryptocurrency exchange platform that in their own words will be “A new era for capital markets.” Today, the company SIX, that is the sole owner and operator of the Swiss Stock
Exchange, announced it plans to launch a cryptocurrency exchange that will be entirely regulated. As revealed by the company, the Swiss Regulator FINMA and the Swiss National Bank will together oversee this new digital currency platform.
It is an indisputable fact that Switzerland has definitely been a rather crypto-friendly jurisdiction when we consider Europe as a whole. It has also delivered guidance with the utmost clarity on their expectations vis-à-vis the operations of the cryptocurrency exchange companies.
Recently, Switzerland has been experiencing a decline in both the value and volume of cryptocurrencies since the beginning of 2018. Bitcoin also saw some major collapse as its value declined from $20,000 per token to merely $6,600 yesterday. Being the most significant crypto asset in the world, going by its market value, it is a major stumbling block for the nation. Despite this setback, the decision of the Swiss Stock Exchange company to launch their own digital currency platform demonstrates a significant amount of determination.
According to the CEO of SIX, Jos Dijsselhof, “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.” This digital currency platform will be based on the technology of distributed ledger. It will also enable the Swiss nation to create tokens that are a representation of the existing securities. The current plan of SIX is to commence dishing out all its services sometime next year.