Swiss SIX Exchange Plans To Launch ETP Based On XRP
SIX Swiss Exchange, the leading Swiss stock exchange, intends to launch an exchange traded product (ETP) soon, whose value will be pegged to the cryptocurrency from Ripple, CoinDesk reports.
The new financial instrument will receive the AXRP ticker and will appear on the platform of the Swiss blockchain-company Amun AG, which has already received a license to place the product from the SIX Swiss Exchange, Amun CEO Hany Rashwan stated.
According to Rashwan, XRP-based ETP will be launched no later than in the next two months. Amun AG already has licenses to launch four more similar tools tied to Litecoin, Stellar Lumens, Bitcoin Cash, and EOS. These assets are planned for launch before the end of 2019, but the exact dates will be assigned depending on demand.
In the fall of 2018, SIX Swiss Exchange first launched a cryptocurrency-linked exchange traded product. The development and launch of the product under the ticker HODL was also provided by the Amun AG company. The tool, which has rapidly gained popularity among users, includes ether, bitcoin, XRP, and Litecoin.
Hany Rashwan stated that Amun AG also plans to release its own ETC-token in order to conduct tokenization of traditional and crypto exchange traded products.
Earlier, SIX Swiss Exchange has launched an exchange traded product tied to the value of the ether.