Switzerland Exchange SIX Gets Approval to Launch Crypto Marketplace

The Swiss Financial Market Supervisory Authority (FINMA) has approved the launch of a crypto marketplace utilizing distributed ledger technology (DLT).

FINMA announced it has given Swiss exchange SIX the green light to launch a digital asset marketplace and central securities depository built on DLT. SIX is Switzerland most valuable and global stock exchange.

Switzerland Exchange SIX Gets Approval to Launch Crypto Marketplace
SIX headquarter | Image: S-ge.com

Earlier in 2019, regulations slowed down the exchange from launching. But still, the company didn't give any details about its launching date. Moreover, is expected that after the approval, users could experience the exchange's offerings soon.

SIX's global head of exchanges, Thomas Zeeb also expressed his beliefs on the news. Zeeb said,

"The digitalization of financial markets continues apace, and while the final shape of the market is still evolving, this is an important milestone in providing institutional investors with a safe and robust infrastructure."

In addition, SIX also shared its desire to expand its offerings to suit the demands of banks, insurance firms and institutional investors within its network.

Moreover, Switzerland is also regarded as one of the world’s most helpful jurisdictions for the crypto industry.

Last month, Worldline and Bitcoin Suisse collaborated to provide cryptocurrency payment solutions that allows merchants to accept payments in Bitcoin (BTC) and Ether (ETH).

Also, last week, Banco Bilbao Vizcaya Argentaria (BBVA) Switzerland, a banking giant launched its cryptocurrency wallet.