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Swiss stock exchange obtains regulatory approval to launch digital stock exchange

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Switzerland’s SIX Exchange has obtained regulatory approval to launch a digital exchange, the first step in shaping the markets of the future.

A regulatory victory for crypto

A recent FINMA decision, watchdog of the Swiss market, resulted in the granting of two licenses to the company SIX Digital Exchange, the new digital arm of the country’s SIX stock exchange. The licenses will allow SIX Digital Exchange to operate a blockchain-based securities exchange and custodian. Such a digital entity can also be called a digital exchange. A stock Exchange is a market for the trading of securities, commodities, derivatives or other financial instruments, and may provide, in this case, a regulated alternative to the largely unregulated crypto exchange space. Binance, the world’s leading crypto exchange, was recently criticized by authorities in Singapore and South Africa being the most recent, highlighting how the lack of regulation affects the functioning of trade on a global scale.

SIX doesn’t work like Uber, says SIX’s head of scholarships

SIX Digital Exchange laid out plans to launch a digital-only exchange in 2018, but Thomas Zeeb, SIX’s global head of exchanges, said in 2019 that he did not want to launch another Uber. It was an ironic reference to the fact that Uber didn’t seek regulatory approval before launching into countries.

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