Switzerland’s Stock Exchange (SIX) wants to have its own security token offering in the second half of 2019 alongside the launch of its SIX Digital Exchange (SDX) platform for trading digital assets.
SIX To Launch Its Own STO
The Switzerland Stock Exchange (SIX) wants to launch its own security token offering (STO), according to the institution’s Chairman Romeo Lacher, sometime in H2, 2019 alongside its Digital currency Exchange platform SDX.
“We want to start with our own Security Token Offering,” confirmed Lacher to Reuters at the Swiss Finance Institute Conference.
SDX is likely to begin by offering trading in selected stocks, followed by other stocks, bonds, and potentially exchange-traded funds.
Previously, the exchange has stated that SDX will enable tokenization of existing securities and other non-bankable assets, saying:
With the new service we will provide a safe environment for issuing and trading digital assets, and enable the tokenisation of existing securities and non-bankable assets to make previously untradeable assets tradeable.
SDX Coming in H2 2019
The Switzerland Stock Exchange will launch its digital exchange in the second half of 2019. Lacher explained that the institution is currently clarifying regulatory and legal issues with the country’s financial market watchdog FINMA.