Switzerland’s main stock market has announced that it’s developing a blockchain-based platform to tokenize conventional securities. )
In an announcement on Friday, SIX Swiss Exchange said it will construct the new initiative — dubbed SIX Digital Exchange (SDX) — onto a dispersed ledger, using its technical experience in managing a large-scale fiscal infrastructure.
As a controlled stock trading Swiss Exchange further said the SDX will possess the “same standard of oversight and regulation” upon completion and will be supervised by Swiss financial authorities.
In an email response, a representative from SIX, a business which owns Swiss Exchange, advised CoinDesk the development process is going to be broken up into several stages, using a preliminary plan for introduction next year.
However, the market mentioned that the target of the platform isn’t appropriate for trading cryptocurrencies but instead a market where conventional investors are able to digitize their resources utilizing the technologies.
Jos Dijsselhof, chief executive of SIX, stated in the statement:-LRB-*********)
The Swiss market isn’t the only trading platform that’s exploring how to integrate dispersed ledger technology to its current business operations.
As formerly reported from CoinDesk, the Australia Securities Exchange began its blockchain return 2015 and can be defined to roll out a DLT-based replacement by 2020.
SIX picture via Shutterstock
The pioneer in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and abides with a strict set of editorial policies.
Original post first appeared in https://www.coindesk.com/swiss-stock-exchange-to-tokenize-securities-in-new-dlt-platform/