Swiss Stock Exchange (SIX Group) Open to Trading Cryptocurrency On Their Upcoming Platform

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Switzerland’s principal stock exchange, SIX Group, announced that they’re open to the possibility of trading cryptocurrency on their digital trading platform. Although the platform is still in development, they expect to launch by mid 2019. This stated in an interview with the Swiss info news outlet on July 15.

SIX Group (Swiss Infrastructure And Exchange), is the country’s largest stock market and plans to launch a fully regulated platform for cryptocurrency. The service intends to offer a wide range of services including Initial Coin Offerings (ICO) consultation from those companies that are not classified as securities.

A spokesperson of SIX Group, Stephan Meier, stated that there is a real need for transparency and accountability within the crypto sphere. According to him, this would benefit both investors and businesses in the industry as well as the participants of institutional markets.

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“Traditional service providers and investors are interested in our upcoming service for offering digital currency and want to take advantage of these opportunities for raising capital and trading in digital assets.”

Meier didn’t disclose what specific cryptocurrency would be offered to listings on their upcoming platform. He claimed that the company would technically be able to add various cryptocurrency to the platform and that each digital asset would undergo a “due diligence” process before being added. However, he still noted that the question of whether cryptocurrency will be added still an open discussion.

Meier claims that SIX Group is looking to build a bridge between traditional finance services and digital communities. He emphasized that the company would be working in close proximity with regulation authorities in order to find out what areas need to be adjusted for additional legal framework.

Switzerland was reported earlier in the week to be the second most favorable country for ICO’s in terms of funds raised which was only outperformed by the United States

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