Switzerland’s stock exchange SIX developing Swiss Franc-pegged stablecoin
Thu, 23 May 2019, 11:23 am UTC
The stablecoin is being developed to facilitate transactions on the upcoming SIX Digital Exchange (SDX). However, the spokesman did not disclose further details such as whether the stablecoin would be for private use within SDX or would exist publicly.
“Yes, we are currently working on a CHF Stable Coin – so Swiss franc,” the spokesman told CoinDesk.
In July 2018, SIX announced SDX – a full end-to-end and fully integrated trading, settlement and custody infrastructure for digital assets. Earlier this year, reports suggested that it was planning to test blockchain integration for SDX in the latter half of this year. SIX Group has selected R3’s Corda Enterprise for SDX.
More recently, a top executive at SIX said that the company also plans to issue its own tokens on the planned digital exchange.
“Ultimately we want to be able to tokenize existing securities — equities, fixed income, funds. Maybe the token will eventually replace the share one day.” Thomas Zeeb, SIX’s head of securities and exchanges, said at the time.
Zeeb had also stated that the first assets that they are interested to tokenize as part of a minimum viable product (MVP), an early version of SDX, are securities that are already traded today on SIX’s exchange.
In November 2018, SIX Swiss Exchange launched multi-crypto-based exchange-traded product (ETP), which was followed by bitcoin-based ETP, XRP ETP, and ETH ETP.
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