- SIX Group is considering adding cryptocurrency trading to its new platform
- The group believes this will benefit all market players
- SIX is working with authorities to determine possible legal framework changes
SIX Group, the parent firm of the main stock exchange in Switzerland, has announced that it is not opposed to the idea of opening up its digital trading platform to cryptocurrency trading services.
A spokesperson for the group made the comment in an interview with Swissinfo yesterday. SIX runs Switzerland’s biggest stock market and plans to introduce a “fully regulated” digital asset trading platform by the middle of next year, including Initial Coin Offerings (ICOs).
SIX Group Spokesperson Stephan Meier said there was a “real need” for more accountability and transparency in the world of cryptocurrency trading. He claims that this will benefit investors and businesses in the market, along with participants in conventional markets.
Meier went on to say: “Not only traditional financial service providers and investors are interested in this, but also numerous companies and investors who want to take advantage of the new opportunities for raising capital and trading in digital assets.”
He explained that the group has not yet decided which specific instruments will be listed and traded on the platform, and it remains an open question whether cryptocurrencies will be one of them.
Technically, he added, they will be able to accommodate a variety of digital assets on the platform. He stressed that every digital asset will have to go through a process of due diligence before being added.
Meier stated that his firm wanted to build a bridge between digital communities and conventional financial services, adding that SIX Group was working closely with regulatory authorities to determine whether any additions or changes to the legal framework might be necessary.
