On March 17, a report detailed that the digital exchange developed by SIX, the main Swiss stock exchange, is ready to be launched in the summer of 2021. According to reports, the exchange named SIX Digital Exchange (SDX) will also provide Bitcoin, as well as non-tokenized artworks and other fungible token (NFT) assets.
SIX will release SDX in the summer and Bitcoin will be listed on the SIX digital exchange
The SIX exchange in Zurich is the most popular stock exchange in Switzerland, where people can trade stock options, derivatives, Swiss government bonds and other types of securities. SIX not only provides exchange trading products focusing on digital currencies such as Bitcoin (BTC) and Ethereum (ETH), but the exchange will also launch a crypto asset trading called SIX Digital Exchange (SDX) in the near future So.
A report written by Finews author Samuel Gerber stated in a recently published report that SDX plans to be launched soon. In addition to securitized crypto assets, it will also list the leading cryptocurrency Bitcoin (BTC).
Gerber said that SDX “relies on the ecosystem of partners and SIX investments.” One of the partnerships Gerber mentioned is the collaboration between SDX and the Daura consortium, which aims to issue Swiss cryptocurrency shares.
Sygnum, a well-known bank that also handles cryptocurrencies, is also a member of the Daura Consortium. In the first week of December 2020, SDX also announced a partnership with SBI Digital Asset Holdings. The joint venture between SDX and SBI aims to establish a regional liquidity hub for Singapore’s institutional digital assets.
Tokenized artworks and traditional banks enter cryptocurrency
Gerber’s report stated that the release of SDX was delayed due to the coronavirus and the search for external sponsors. SDX was supposed to be launched in the last quarter of 2020, but it is still looking for other shareholders in addition to its partners and Swiss banks that have already worked with SIX. In addition, the Fines report emphasizes that SDX may also list non-fungible token (NFT) assets, such as blockchain collectibles and tokenized artworks.
Eric Schmalzbauer, head of customer and product management at SDX in the United States, believes that many innovative blockchain products and encryption-related announcements will continue to occur in 2021. Schmalzbauer said he believes that the biggest announcement so far this year comes from companies such as Microstrategy. Tesla buys Bitcoin (BTC). SDX executives believe that large banks will soon follow the pace of these large companies.
The recent interview with Schmalzbauer started after Morgan Stanley Bank announced the news. Morgan Stanley is offering three Bitcoin funds to clients. “I believe that traditional banks, especially large banks, will be involved in the near future because they are strictly regulated and the cryptocurrency field is not mature enough,” Schmalzbauer said in an interview.
Schmalzbauer insisted: “Many people may question the viability of cryptocurrency or Bitcoin as a safe-haven asset.” He added: “However, over time, I think cryptocurrency will help promote cash business and assets. Management of the balance sheet.”
What do you think of the SIX SDX trading platform launched this summer? Let us know your thoughts on this topic in the comments section below.
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