Standard

Read

The Swiss stock exchange is considering launching a crypto trading platform in Europe, aiming to attract traditional investors by leveraging Switzerland’s crypto-friendly laws.
The <a href="https://crypto.news/tag/switzerland/" target="_blank" rel="noopener noreferrer nofollow">Swiss</a> stock exchange operator, SIX Group, is considering establishing a new platform in <a href="https://crypto.news/tag/europe/" target="_blank" rel="noopener noreferrer nofollow">Europe</a> for crypto trading, aiming to challenge major players like Binance, OKX, and Coinbase, the Financial Times <a href="https://www.ft.com/content/edcd0f00-71b1-4335-8eba-78c214cbc377" target="_blank" rel="noopener noreferrer nofollow">reports</a>, citing Bjørn Sibbern, global head of exchanges at SIX Group.
The company hopes to leverage its reputation and Switzerland’s progressive crypto regulations to attract institutional investors interested in crypto trading. Sibbern says the stock exchange is mulling over the idea given that crypto has become “more and more a recognized asset class.”
Currently, the company is evaluating the creation of a platform “where we can help facilitate trading, whether it is [spot] crypto or whether it is derivatives,” he added, without elaborating on the timeframe of the platform’s launch.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/switzerland-to-launch-cbdc-pilot-on-six-digital-exchange/"> Switzerland to launch CBDC pilot on SIX Digital Exchange </a>
<h2 class="wp-block-heading" id="six-s-crypto-venue-to-target-institutional-investors-only">SIX’s crypto venue to target institutional investors only</h2>
While many traditional financial firms have hesitated to enter the crypto space due to regulatory uncertainty, companies such as Deutsche Börse, Nomura, and Standard Chartered have already launched separate crypto trading venues.
Sibbern emphasized that the new venue would be open exclusively to institutional investors, adding that an increasing number of global banks and institutions are now exploring opportunities in crypto. Targeting big investors, the platform would capitalize on Switzerland’s crypto-friendly environment, where clear regulations govern asset trading and custody.
In late July, the Swiss Financial Market Supervisory Authority <a href="https://crypto.news/swiss-financial-watchdog-finma-rolls-out-guidance-for-stablecoin-issuers/" target="_blank" rel="noopener noreferrer nofollow">published</a> a guidance addressing the risks and challenges associated with stablecoins for issuers and banks providing guarantees. In the guidance, the regulator underscored the necessity for stablecoin issuers to verify the identities of token holders and beneficial owners to mitigate these risks.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/switzerlands-fourth-largest-bank-zkb-launches-crypto-services/"> Switzerland’s fourth-largest bank ZKB launches crypto services </a>

Swiss SIX stock exchange explores setting up crypto arm in Europe

Table of Contents

crypto.news

Other articles published on Sep 18, 2024

BNB Chain partners with major CEX, wallets, and bridges to offer gas-free transfers

Sky Protocol’s Recent Proposal Could Impact $200M Loans Backed by Wrapped Bitcoin: Report

Is It Too Late To Buy BOBO? BOBO Coin Price Soars 44% And This Might Be The Next Crypto To Explode

Intuitive Machines (LUNR) Deep Dive: Moon Hype Launches

Hedera Joins MiCA Crypto Alliance with Ripple and Aptos, Launches Asset Tokenization Studio

Real-world asset tokenization is the crypto killer app — Polygon exec

Join our free newsletter for daily crypto updates!