The Swiss stock exchange says it wants to kick off digital asset trading with its own Security Token Offering when its new blockchain-based trading system goes live later this year.
Dubbed SIX Digital Exchange (SDX), the new platform will aim to provide a safe environment for issuing and trading digital assets, and enable the tokenisation of existing securities and non-bankable assets claims SIX.
Initially scheduled for go-live in the first half of this year, the new platform is unlikely to see the light of day until the end of the year as the SIX Board clarifies legal and regulatory technicalities with financial markets watchdog Finma, chairman Romeo Lacher told Reuters.
Lacher views the delays as a minor hiccup, explaining to Reuters that SIX sees itself in the lead among global exchanges and intends to show off the technology by raising money itself via the new platform in the second half of the year.
Speaking on the sidelines of a Swiss Finance Instiute, Lacher said: “We want to start with our own Security Token Offering."