SIX Announces Launch Of Fully Regulated Digital Exchange
The driving force behind Switzerland's stock exchange has revealed its plans to release a cryptocurrency trading exchange under complete regulation. The new SIX network will provide a completely regulated environment, ensuring full trading services as the original building block of the global market. Cryptocurrencies will also be distributed and current securities can be converted into digital coins.
The company plans on releasing the system under SIX Digital Exchange next year and is said to be all-inclusive by Thomas Zeeb, a board member. During the interview, Zeeb explained that exchange customers will be able to use their digital assets in the same way they do with flat currencies through complete control of trade and personal assets.
He added that the new framework will control Switzerland's entire value chain, monitoring every department including trade and payment methods. Companies and businesses will also be able to pull in revenue with the initial coin offerings that will operate as part of the new digital environment and SIX will assist its customers and clients with introducing new innovations and ICO initiation.
In response to the comments and concerns surrounding the introduction of a new cryptocurrency exchange during a time when digital coins were underperforming, CEO of SIX said the new platform would shed light on the nation's future crypto-based economy. He firmly believes that this day's blockchain trend will go on and will reshape Switzerland's industry and how it operates.
ICE also announced the development of a new network that allows Bitcoin purchases by its big-time clientele and Nasdaq displayed a positive reaction towards possibly trading digital assets in the future.
SIX's new platform will comply with regulations placed by the national bank and FINMA.