SIX Swiss Exchange To Launch Crypto Exchange On Corda Blockchain
Switzerland's leading stock exchange, SIX Swiss Exchange, chose the Corda Enterprise technology as the basis for its future cryptocurrency trading platform. This was stated by the representatives of the developer company, R3, at the Corda Day event.
SIX announced its intention to start trading with digital currencies in July last year. Back then the experts were already developing the platform. The new crypto exchange called Six Digital Exchange (SDX) is expected to be opened in mid-2019. As follows from earlier reports, the platform will provide a full range of services related to digital assets, including advice on how to conduct an ICO.
Last month, the company said it would begin testing the blockchain on SDX and use the technology to tokenize stocks, securities, and exchange-traded funds (ETFs).
Although SIX Swiss Exchange is a traditional stock exchange, it also strives to be an active participant of the digital currency market. The company even has several cryptocurrency options — the world's first exchange-traded product (ETP), consisting of five assets (bitcoin, ether, XRP, Bitcoin Cash, and Litecoin), and the recently released ETP based on ETH.
Romeo Lacher, the head of SIX, stated he believes that SDX will surpass the core stock exchange market in ten years. He also hinted that the company might launch its STO in the future.
The Corda Enterprise technology is a branch of the main blockchain platform Corda developed by the R3 consortium. It is primarily used for commercial purposes in financial trading, insurance, market infrastructures, etc.