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Switzerland officially launches cryptocurrency exchange

cryptocurrency exchange

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The company that manages the Swiss Stock Exchange, SIX, announced that it plans to launch a fully regulated exchange for cryptocurrency. The new SIX Digital Exchange is to be approved by the Swiss National Bank and local regulator FINMA.

The European country is one of the most friendly continents on the continent with clear business rules for digital money-market companies.

The SIX’s decision to open such an exchange comes despite the collapse in the price of cryptocurrency and significantly weaker trading since the beginning of the year. Bitcoin, which is among the most popular in the world, has fallen from 20,000 USD at the beginning of the year to just over 6,000 USD.

“This is the beginning of a new era of capital markets”, said the CEO of SIX, Jos Dijsselhof. “It is clear to us that much of what is happening in the digital space will continue to exist and will determine the future of our industry”, added he.

SIX’s platform can trade cryptocurrencies, but the exchange wants to build the first end-to-end platform. Few crypto exchanges offer safeguarding or custody of assets like Bitcoin or Ether, sending users to third-party providers. By contrast, SIX said it wants to cover the full spectrum of trading to custody of assets.