Switzerland becomes world first: Tokenized stock exchange allowed

Switzerland became the first country in the world to have a fully regulated security token exchange. The SIX exchange, the digital arm of the Swiss stock market, has received approval from the country’s regulatory body, FINMA, to launch an exchange for digital assets and digital securities custody transactions. The permission from FINMA was granted within the framework of the “distributed ledger technologies law” that changed on August 1.

SIX first announced in 2018 that it would set up an exchange for blockchain technology-based digital assets. Now, FINMA has granted SIX two permits, a license to operate an exchange and a license to deposit securities for digital assets.

The aim of SIX’s announcement 3 years ago was to tokenize traditional securities. After the announcement, it is unclear which securities will be digitized. SDX Trading, a subsidiary of SIX, will be responsible for the buying, selling and custody services of digital securities. SDX will also establish the ecosystem to provide the necessary liquidity.

SDX; It is stated that it intends to appeal to banks, insurance companies and institutional investors.

“An important milestone for digital mainstreaming”

Thomas Zeeb, global head of exchanges and member of the board of directors of SIX, used the following statements about the licenses received:

“These licenses are an important milestone in providing corporate companies with a secure and robust infrastructure that meets all their requirements like a traditional stock market, that is, incorporating digital into the mainstream.”