The largest stock exchange of Switzerland announced the development of a blockchain-based platform for tokenization of securities and the subsequent implementation of the trading, settlement and custody services for those assets.
SIX Swiss Exchange said that the trading platform SIX Digital Exchange (SDX) will have “the same standard of supervision and regulation”, which is the traditional financial venues in the country.
The representative of the SIX Swiss Exchange said that the process of developing blockchain platform will be divided into several stages. The debut of the first decisions is planned for next year.
“In the first phase we will create a regulated exchange platform. The second stage will offer the service for tokenization of existing Bank assets, followed by tokenization non-banking assets. Following a flexible approach to meet the needs of the existing dynamic environments, the first services will be deployed in mid-2019,” explained the company.
The exchange noted that we are not talking about the cryptocurrency trading, the platform aims at creating a market in which traditional investors will be able to digitize their assets using DLT technology.
“This is the beginning of a new era for infrastructure capital markets. It is obvious that much of what is happening in the digital space, has come to stay and shape the future of our industry. The financial industry now needs to bridge the gap between traditional financial services and digital communities,” said Executive Director of the SIX Swiss Disselhoff Jos (Jos Dijsselhof).
We will remind that earlier the Australian stock exchange (ASX) announced the transfer of its system of payments and clearing on the blockchain.