SIX Group has revealed that it’s “open” to offer cryptocurrency trading services on its digital platform.
Recently, SIX Group announced that it is working on a ‘digital asset ecosystem’ based on distributed ledger technology. Jos Dijsselhof, CEO SIX, emphasizes that by creating SDX we enter a new era for capital markets infrastructures in which digital assets will be a critical component.
SIX group is the parent company of Switzerland’s principal stock exchange and the new platform is set to launch by mid-2019. The new platform will provide a safe environment for issuing and trading digital assets, and enable the tokenization of existing securities and non-bankable assets to make previously untradeable assets tradeable, Stephan Meier, spokesman for SIX group says.
They are currently focusing on building the platform and no decision has yet been made as to which specific products will be offered to list and trade. So it is also still open whether cryptocurrencies or already existing ICO tokens can be traded. Meier says they will be technically able to add various digital assets to the platform. Each new digital asset will go through a due diligence process to help decide if it will be a part of the offering on the exchange or not.
In the interview, Stephan Meier claimed that there is a “real need” for the establishment of “transparency and accountability in the crypto-world.” This would benefit both the businesses and investors in the crypto industry and the participants of traditional markets according to Meier.
“Not only traditional financial service providers and investors are interested in this, but also numerous companies and investors who want to take advantage of the new digital opportunities for raising capital and trading in digital assets.”
For the market participants, Meier says that there is a real need to establish transparency and accountability in the crypto-world. They are seeking a stable, fair, trustworthy and reliable environment in which they can list, trade and convert digital assets.
Currently, SIX group are in close consultation with the legislator and the regulators and will examine in which areas adjustments or additions to the legal framework may be necessary and where current regulations are sufficient or can be brought in line with technical developments.