The SIX Digital Exchange (SDX) platform has received FINMA licenses to operate as an exchange and a central securities depository for digital assets in Switzerland. FINMA
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SIX Digital Exchange gets regulatory approval from FINMA!
Today, SIX Digital Exchange (SDX) formally received the FINMA go-ahead to operate a stock exchange and a central securities depository for digital assets in Switzerland.#sixnews #sdx #tfofinhttps://t.co/iKJnDCSYZf
— SIX (@sixgroup) September 10, 2021
SDX is owned by the operator of the Swiss stock exchange SWX (SIX Swiss Exchange) — SIX Group. The organisation announced plans to launch a regulated platform for trading digital assets in 2018.
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In 2019, SIX Group said that to build the platform it would employ the Corda blockchain from the R3 consortium. It was envisaged that SDX would allow clients to trade digital assets, including tokenised securities, and conduct STO.
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According to the press release, the exchange’s plans have not changed over the past three years.
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“[The licenses] will allow SDX to launch a fully regulated, integrated trading, clearing and depository infrastructure based on distributed ledger technology for digital securities,” the announcement said.
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In the near term, the organisation plans to invest in developing a digital ecosystem to create a global network of liquidity. SDX will participate in joint ventures and promote the platforms among foreign and local financial companies.
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“As the international client base expands, including banks, issuers of securities, insurance companies and institutional investors, SDX participants will create a global network for exchanging digital assets,” the company added.
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In December 2020, SDX said that, together with the Japanese conglomerate SBI is working on launching a similar platform in Singapore.
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In June, one of Spain’s largest banks, BBVA launched a service for trading and storing cryptocurrencies in Switzerland.
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