Copy link
Increase text size
Decrease text size
Link copied

Switzerland’s stock exchange SIX developing Swiss Franc-pegged stablecoin

Thu, 23 May 2019, 11:23 am UTC

Switzerland’s principal stock exchange, SIX Swiss Exchange, is working on a stablecoin pegged to the Swiss franc, a spokesman for the company confirmed to Cointelegraph and CoinDesk.

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.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,564.06 (+0.62%)
  • Ethereum (ETH) $238.11 (+1.36%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $243.58 (-0.40%)
  • Bitcoin SV (BSV) $194.72 (-0.68%)
  • Bitcoin (BTC) $9,564.06 (+0.62%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft