SIX, one of Europe’s largest stock exchanges, has received regulatory approval to launch a digital bourse.
SIX, Switzerland’s stock exchange, announced today that it had received two licenses from the country’s markets regulator to launch a stock exchange and depository for blockchain-based securities.
- “This is an important step toward mainstreaming the digitalization of capital markets, but it is only the beginning. We will continue to collaborate with our clients, regulators, and other stakeholders to shape future markets,” said Thomas Zeeb, SIX’s global head of exchanges.
- The organization’s attempts to obtain this specific approval date date back to 2019, when Zeeb first hinted about them.
- SIX Exchange, on the other hand, has already become the home of a slew of cryptocurrency-related products. CoinShares and 21Shares have launched a number of exchange-traded products that track the performance of various assets such as Bitcoin, Ethereum, Litecoin, Solana, and others.The SIX Swiss Exchange, headquartered in Zurich, Switzerland, is the country’s primary stock exchange, as well as a market for specific securities such as government bonds and derivatives such as stock options.
- The nation’s regulator, the Swiss Financial Market Supervisory Authority, has granted the organization two licenses (FINMA). SIX will be able to operate a stock exchange and depository for DLT-based securities as a result of this regulatory approval.
- It will also be able to launch blockchain-based regulated trading, settlement, and custody infrastructure. SIX has not stated when it plans to launch this digital bourse or which assets will be listed first.