The SIX Swiss Exchange (SIX) has approved the establishment of a digital asset exchange and central securities depository (CSD) based on distributed ledger technology (DLT) on Friday. Announced.
Initially, it was aimed to be established in the latter half of 2019, but regulatory obstacles delayed the progress of the stock exchange SIX’s goals. The date of establishment was not disclosed in the announcement on Friday, but it is expected that customers will soon be able to use SIX’s services as soon as the issues are resolved.
In February of this year, 21 Shares listed the world’s first Polkadot (DOT) ETP (Exchange Traded Product) on SIX in response to rising demand in the region.
Switzerland, known as the “Crypto Valley,” is widely recognized as one of the easiest places to develop crypto-related businesses in the world. In June, Switzerland decided that tax law amendments were not necessary and said that the current infrastructure would be sufficient to support the growth of blockchain and DTL technology.
Thomas Zeve, Global Head of Exchanges at SIX, said of the approval: “The digitization of financial markets continues to progress rapidly. The final form of the market is still evolving, but (this approval) It will be an important milestone in providing institutional investors with a safe and robust infrastructure. “
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