coindesk.com
Swiss stock exchange SIX has been given regulatory approval to launch an exchange and depository for digital assets.
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The SIX Digital Exchange (SDX) has been authorized by Swiss financial regulator FINMA to offer trading and custody of digital assets, according to an announcement Friday.
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Having first announced it was building an exchange for digital assets based on blockchain technology in July 2018, SIX has been granted two licenses from FINMA to operate a stock exchange and central securities depository (CSD). It appears to be the first major stock exchange to be starting its own digital asset exchange.
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“This is an important milestone in providing institutional investors with a safe and robust infrastructure meeting all of the core requirements of a traditional exchange and CSD infrastructure,” said Thomas Zeeb, SIX’s global head of exchanges and a member of its executive board.
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It is not clear yet exactly which digital assets will be supported, though SIX’s initial announcement three years ago made reference to tokenizing traditional securities.
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Having finally won FINMA approval, SDX will look to build the necessary ecosystem with liquidity for digital assets and onboard clients over the coming months.
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SDX hopes to appeal to banks, issuers, insurance firms and institutional investors.
Read more: 21Shares Launching World’s First Solana ETP on SIX Swiss Exchange
UPDATE (Sept. 10, 13:05 UTC): Updated with information in the second bullet point.