This week marks a milestone for the cryptocurrency industry as the Swiss stock exchange announces that it is going to launch its own cryptocurrency exchange. The platform will be called the SIX Digital Exchange, based off the group that runs the Swiss stock exchange.
In spite of the recent continuous dip in crypto prices, SIX expresses interest in the market with its decision to launch a fully-regulated cryptocurrency exchange. The Swiss National Bank and FINMA, a Swiss regulatory entity, will be overseeing the platform.
Business Insider reports that SIX CEO Jos Dijsselhof stated that he believes that digital currency will define the future of the financial industry: “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.”
SIX Digital Exchange will launch in the first half of 2019 and its offerings will include end-to-end trading, settlement, and custody service for cryptocurrency and ICO tokens.
Insiders share that players in the sector are already making preparations for the launch, making sure that they have the proper infrastructure, including trading accounts and custody solutions.