Major Swiss stock exchange SIX Group’s Chairperson Romeo Lacher said that they are all set to launch blockchain-powered SIX Digital Exchange (SDX) in the second half of 2019. He expects that in the coming 10 years digital exchanges will completely replace the existing system.
What did SIX Group’s Chairperson say about their New SDX Blockchain Platform?
It is learned that in the initial stage of SDX’s launch, the new platform will run parallel to the existing SIX stock exchange platform. Reports say the distributed ledger system of the blockchain technology will be used for bridging traditional finance with that of the cryptocurrencies.
During a conference of a Swiss Finance Institute, Chairman of SIX Group, Romeo Lacher reportedly said that his company is ready for adding multiple digital assets to the blockchain based platform. SDX digital exchange will expectedly replace the traditional exchange system completely within a decade.
Lacher also went on to admit that they haven’t finalized the selection of products that will be listed on SDX exchange. However, he said that at first selected stocks will be introduced. Once the exchange is launched fully, other product types such as ETFs (Exchange Traded Funds) and bonds will be introduced. Other important introductions will include tokenized securities as well as non-tradable assets including vintage cars or paintings.
He also said that a rigorous review process will be implemented at the time of digitization of every asset and then adding the same to the exchange. Lacher stressed the fact that:
“We want to start with our own Security Token Offering. The supervisory board will probably decide (on the project) in late summer.”
SIX is going to be the first major marketplace offering such a regulated environment for the digital assets. However, it is not the only exchange working on such blockchain based projects. In 2018, Deutsche Boerse (a leading stock exchange operator of Germany) has set up a company unit on blockchain and cryptocurrencies. This division is exploring the blockchain technology and Distributed Ledger Technology (DLT) for various use cases.
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