Never mind security tokens, the newly licensed SIX Digital Exchange is in discussions with NFT funds and central banks. SDX’s chairman discusses the trading venue’s uniquely Swiss ambitions. Read all about it! Did this blog spike your interest? Let’s talk about it : [email protected]
SDX: SIX Digital Exchange – what is it?
SIX, the company that owns and operates the Swiss stock exchange, has launched a fully regulated cryptocurrency exchange platform. This is another step by Switzerland in developing its blockchain ecosystem. The Swiss cryptocurrency exchange is called SIX Digital Exchange - in short SDX.
SDX is supervised by the Swiss National Bank (SNB) and FINMA (Financial Market Supervisory Authority), the institution that oversees the financial market there.
The Swiss digital exchange, SDX, is the first fully regulated market infrastructure that issues digital bonds and uses Distributed Ledger Technology (DLT), which underpins cryptocurrencies, for settlement.
Cryptocurrencies in Switzerland
Switzerland is one of the most cryptocurrency-friendly countries in the world. The canton of Zug is even called "crypto valley" for this reason. The town of Zug has less than 30,000 inhabitants. However, thanks to its low taxes, it attracts significant capital and companies dealing with financial technologies.
More than a dozen such FinTech companies are based in Zug, including those dealing with cryptocurrencies such as Xapo, Ethereum, and ShapeShift, among others. What's more, in 2020, the city government took an unprecedented step and started an experiment of accepting utility fees and local taxes in bitcoin. Therefore, the creation and growth of SIX Digital Exchange surprises no one.