Largest Swiss Stock Exchange to ‘Open’ Crypto Trading

Largest Swiss Stock Exchange to ‘Open’ Crypto Trading

Other than Malta, one country that has been cryptocurrency friendly is Switzerland. SIX Group which stands for Swiss Infrastructure and Exchange has revealed that it is open to cryptocurrency trading in the digital trading platform once it is released.

SIX is the company that primarily owns and runs the largest Swiss stock exchange in the country. In an interview with a Swiss news channel called Swiss Info on July 15th, SIX’s spokesman Stephan Meier revealed that the digital trading platform would release by mid-2019. He boasted that this digital platform will be a fully regulated platform for trading digital assets.

Stephan Meier disclosed that cryptocurrencies are gaining interest but need to become more transparent.  “Not only traditional financial service providers and investors are interested in this, but also numerous companies and investors who want to take advantage of the new digital opportunities for raising capital and trading in digital assets,” Meier said.

What amongst the cryptocurrency field will be traded in the platform is still unknown, as a due diligence process will be undergone before being allowed in the platform.

Head of securities and exchanges at SIX, Thomas Zeeb, said in a statement, “The digital space currently faces a number of key challenges. These include the absence of regulation that ensures official safety, security, stability, transparency, and accountability – all of which contribute to a lack of trust.”

Switzerland’s city of Zug is aiming to become the ‘Crypto Valley’ of the world for cryptocurrency similarly to how San Francisco became the ‘Silicon Valley’ in the internet age.  At the Crypto Valley Conference in Zug, Johann N. Schneider-Ammann the Head of the Swiss Federal Department of Economic Affairs, Education and Research EAER pointed out that the Swiss government is working together with and for Blockchain.

“Blockchain can provide new opportunities, new jobs, new levels of security and new prosperity. It’s definitively never too early to start,” Johann N. Schneider-Ammann said.

Image Source: “Flickr”

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