Swiss Stock Exchange Develops Blockchain Platform for Traditional Assets
July 9, 2018
One of the Europe’s major stock exchanges, SIX Swiss Exchange, has declared it started developing a blockchain platform that would tokenize traditional financial assets.
The platform was named SIX Digital Exchange (SDX) and is to function with the distributed ledger technology (DLT) at its basis. As the exchange claimed, its rich technical background will allow for establishing large-scale financial infrastructure. SDX will meet the same standards SIX Swiss Exchange does. In addition, it will be under control of Swiss financial regulators.
“The first step is to build up a regulated exchange platform. In a second phase we will offer the service to tokenize existing bankable assets which will be followed by the tokenization of non-bankable assets. Following an agile approach to meet the needs of today's dynamic environment, the first services will be rolled out in mid-2019,” the SIX spokesman stated in e-mail to CoinDesk.
The purpose of the new platform is reported to be establishing of new trade site rather that crypto trade. It is supposed to allow for traditional investors to tokenize their assets via DLT.