Swiss Stock exchange launching Crypto exchange by 2019

Plans to launch a regulated cryptocurrency exchange have been announced by SIX, the company that owns the Swiss stock exchange. This only adds to other recent institutional interest despite a sharp decline in prices.

The new exchange will be managed by the Swiss national bank and Swiss regulator FINMA.

Switzerland has been a relatively open-minded country when cryptocurrencies have been concerned with many ICO’s and crypto related business setting up shop there.

“This is the beginning of a new era for capital markets infrastructures,” Jos Dijsselhof, the CEO of SIX said in a statement. “For us, it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry.”

Many in the space believe that this surge in activity within the past few months are institutional investors preparing the infrastructure before the next bull-run. Many believe once this in place and Investors are ready, crypto’s will soar in value much more than the last bull-run.

The new platform will be ready for launch by the first half of 2019 and will offer end-to-end trading, settlement, and custody service for digital assets such as bitcoin and ICO tokens.

Thomas Zeeb, head of securities & exchanges at SIX, said in a statement: “The digital space currently faces a number of key challenges. These include the absence of regulation that ensures official safety, security, stability, transparency, and accountability – all of which contribute to a lack of trust.”

Zeeb highlighted digital asset custody — who looks after your tokens — as a key issue in the space and said SIX would solve this issue through its role as “a recognised and regulated infrastructure provider who provides all steps of the chain in an integrated and secure model.”

On Thursday, US crypto exchange operator Bittrex announced a joint venture with Invest.com to build a new crypto trading platform in the EU. Itai Avneri, Invest.com’spokesman, said in a statement: “Our goal is to become the most reputable platform in the EU and later in numerous countries across the globe.”

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