Top Swiss Stock Exchange Says It Is ‘Open’ to Offering Crypto Trading on Its Platform
SIX Group, the parent company of Switzerland’s principal stock exchange, has revealed that it is “open” to the possibility of offering cryptocurrency trading services on its digital trading platform. The platform, still in development, is set to launch by mid-2019, SIX Group’s spokesman told the Swissinfo news outlet in an interview July 15.
Swiss Infrastructure and Exchange (SIX) Group operates the country’s largest stock market, and is planning to launch a “fully-regulated” platform for digital asset trading by mid-2019. The service is set to offer a “complete” range of services from, including initial coin offering (ICO) consulting for those ICOs that are not classified as securities.
In the interview with Swissinfo, SIX Group spokesman Stephan Meier claimed that there is a “real need” for the establishment of “transparency and accountability in the crypto-world.” According to Meier, this would benefit both the businesses and investors in the crypto industry, and the participants of traditional markets.
“Not only traditional financial service providers and investors are interested in this, but also numerous companies and investors who want to take advantage of the new digital opportunities for raising capital and trading in digital assets.”
Meier clarified that SIX Group has not yet made a decision on what “specific products will be offered to list and trade” on its upcoming platform, noting that the question of whether cryptocurrency trading will be available is still “open.”
He added that the company would “technically be able to add various digital assets to the platform,” stressing that each digital asset will undergo a “due diligence process” before being added.
Stephan Meier also claimed that the company “want[s] to build a bridge between the traditional financial services and digital communities.” He emphasized that SIX Group is working in “close consultation” with regulatory authorities to find out “in which areas adjustments or additions to the legal framework may be necessary.”
By Helen Partz