Swiss Stock Exchange “Aim of Issuing Own Digital Tokens”

It was reported that the management of the Swiss Stock Exchange SIX (Switzerland’s stock exchange) aims to issue its own digital token as part of a blockchain-based digital exchange.

The daily sales of the Swiss Stock Exchange are 5.2 billion Swiss francs. The market capitalization is 1.67 trillion Swiss francs. In July 2018, the exchange announced that it will launch the SIX Digital Exchange (SDX), a digital asset ecosystem using distributed ledger technology.

In addition to the initial digital offering (IDO) service, Thomas Zeeb, director of securities trading at the Swiss Stock Exchange, said it plans to showcase native digital applications, including the release of new tokens. He added that testing will start in the summer and is aimed at release in early 2020. Eventually, the platform aims to tokenize existing securities, stocks, bonds, and funds, so it is expected that all of the same tokens will be replaced.

He said that it is important to cross regulatory hurdles for this and that he wants to realize the tokenization of securities by 2021 by actively promoting dialogue with regulatory authorities. In addition, they are wary of the nature of cryptocurrency transactions and emphasized difficulties in complying with laws such as money laundering and KYC customer verification. He also said that as a countermeasure, building cryptocurrency exchange infrastructure and connectivity can be sufficiently thought out so that customers can access the legal liquidity pool of cryptocurrency.

Meanwhile, the Swiss Stock Exchange launched an ETP linking with the cryptocurrency Ethereum in March. Related information can be found here .