• Thu, 18 Apr 2019, 06:22 PM
  • All times are UTC
  • Edition:
    International
Link copied

SIX Swiss Exchange to launch blockchain-based digital asset exchange

Thu, 07 Feb 2019, 06:25 am UTC

SIX Swiss Exchange has revealed its plans to test blockchain integration for its upcoming “SIX Digital Exchange” (or SDX) in the latter half of this year, Cointelegraph reported.

In July, SIX announced SDX – a full end-to-end and fully integrated trading, settlement and custody infrastructure for digital assets. SDX is expected to roll out its first services in mid-2019 subject to regulatory approvals and clarifications.

Speaking with Cointelegraph Deutschland, CEO Jos Dijsselhof said that the company chose blockchain technology for the time efficiency and enhanced security it can offer across all stages of stock trading and settlement.

"The fact is, it takes two days for the buyer of a stock to become the owner. The trade itself only takes a fraction of a second, but after that payments have to be settled and titles transferred. If we put it all on our digital exchange, then the whole process takes only a few seconds. This makes the market more efficient, but at the same time also takes risks out of the system. "

Previously, Thomas Zeeb, head of securities and exchanges at SIX, told Reuters that he expects the planned blockchain-based platform to completely replace its traditional trading platform within a decade.

Dijsselhof said that the blockchain-based stock trading will help minimize risks as well as widen the range of tradable titles. He believes that SIX would succeed in building “a whole new stock market on the blockchain with completely integrated trading, handling and custody of digital assets".

SIX exchange chairman Romeo Lacher told Reuters that the company is also planning to launch its own Security Token Offering (STO), offering investors an equity stake in exchange for capital.

More recently, Boerse Stuggart, the second largest stock exchange in Germany, launched its cryptocurrency trading app which will allow users to trade in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) free of charge.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $5,289.12 (+0.84%)
  • Ethereum (ETH) $174.99 (+5.04%)
  • XRP (XRP) $0.337100 (+1.15%)
  • Bitcoin Cash (BCH) $307.85 (-0.21%)
  • Litecoin (LTC) $82.86 (+4.13%)
  • Bitcoin (BTC) $5,289.12 (+0.84%)
Apr 18, 2019 (Thursday)
11:52
Monex Group considers adding cryptocurrencies amid growing competition
10:58
Japan’s FSA to introduce new rules for crypto exchanges’ cold wallets: Report
09:38
Wirecard, Telegram’s TON partner to develop digital financial services and banking platform
09:10
E-Commerce giant Rakuten opens registrations for its cryptocurrency exchange
07:46
Enterprise Ethereum Alliance launches initiative to apply standards to tokenization
06:12
Crypto exchange Coinbase expands crypto-to-crypto support to 11 new countries
05:38
Crypto exchange Gemini adds full support for SegWit
04:11
Israeli shipping giant ZIM joins IBM Maersk blockchain shipping solution “TradeLens”
03:28
Ashton Kutcher’s Thorn looks to blockchain technology to eliminate child sexual abuse content from internet
Apr 17, 2019 (Wednesday)
11:45
Trading Technologies launches connectivity to bitcoin derivatives platform BitMEX
10:47
US SEC and FINRA to discuss digital assets and cybersecurity at National Compliance Outreach Program for Broker-Dealers
09:56
Blockchain smartphone maker Sirin Labs lays off 25% of staff
09:01
USDT launches on TRON Blockchain
07:13
EY launches smart contract testing service for public Ethereum blockchain, announces major upgrades
06:08
MUFG, Sozo Ventures back crypto compliance startup Chainalysis’s Series B round
05:10
eToroX launches cryptocurrency exchange , announces 8 stablecoins
04:25
Hong Kong insurer Blue Cross launches blockchain solution
03:45
South Korean telecom giant KT launches 5G-based blockchain platform 'GiGA Chain'
Apr 16, 2019 (Tuesday)
11:47
French government to invest €4.5B into blockchain technologies
11:03
Accenture and Generali launch blockchain solution for captive employee benefits
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft