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Switzerland’s SIX Exchange pushes back its blockchain-powered digital exchange project

Biraajmaan Tamuly

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Switzerland’s SIX Exchange is in the news after it announced that it will be postponing the launch of its much-awaited project – a fully regulated crypto-trading platform for its users, known as SIX Digital Exchange (SDX).

The exchange is still working on the legal and regulatory aspects for the successful launch of the blockchain project. According to reports, SIX is still in talks with major banks across the country to discuss services that will be offered to its users. Recently, the exchange caught the attention of the crypto-community after it launched DLT-based trading and settlement prototypes. This development was shared by Thomas Zeeb, Chairman SDX and Member of the Executive Board at SIX, who stated,

“The launch of this prototype is a major milestone in creating a credible digital infrastructure for moving our industry forward. We are now one step closer to demonstrating the viability of our vision for the financial markets of the future and, ultimately, for the way people and businesses access capital.”

SDX is a testament to the innovative nature of the Swiss stock exchange and the foresight of its shareholders, he added. Zeeb also said SIX was combining existing market technology with revolutionary new technologies to create the market of the future.

During SDX’s initial phase, it will operate parallel to the existing SIX platform. Switzerland has already emerged as the hub for blockchain-related projects in the European market, and with the launch of SDX, crypto-traders and hobbyists can look forward to get more benefits from these projects.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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