The Swiss Stock Exchange “SIX” revealed that it has obtained regulatory approval to launch the digital exchange.

According to advertise Issued on Friday, the Swiss Financial Market Supervisory Authority has given the green light to launch the digital exchange, called “SDX” which is supervised by the Swiss Stock Exchange “SIX”.

SIX revealed that it has obtained two licenses from FINMA, the Swiss market watchdog, to start operating a stock exchange and repository for blockchain-based securities.

The company issued a statement saying:

This authorization enables SDX to operate with a fully regulated and integrated infrastructure for trading, settlement and custodianship based on blockchain technology for digital securities.

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With these licenses, SDX can now offer the highest Swiss standards of oversight and regulation.

With regulatory approval, SIX has revealed that it is now ready to launch a regulated infrastructure for trading, settlement and custody based on the blockchain.

The exchange will offer stocks and bonds in the form of digital tokens as soon as they are published.

SIX’s global head of exchanges also hinted that the company might also offer token versions of funds and exchange-traded assets such as real estate and art.

Alternative to Cryptocurrency Trading Platforms:

Although there is no clarity on when the new product will be launched, the digital exchange could serve as an alternative to cryptocurrency trading platforms, most of which operate outside the purview of applicable regulatory authority and rules.

With the launch of the new platform, SIX will be far ahead of other major exchanges such as the New York Stock Exchange, when it comes to offering blockchain-based securities.

The approval is seen as a historic move in the cryptocurrency space, which has seen increased acceptance and widespread adoption.

Large financial companies such as PayPal, MasterCard and Square provided support for cryptocurrencies.

Read:Federal Reserve Chairman: Cryptocurrencies are not a store of value and the issuance of “CBDC” will not be immediate

Regardless of El Salvador, which has adopted Bitcoin as a legal currency, the Ukrainian government has also passed a law legalizing the cryptocurrency in the country, which we touched on in the news published yesterday on Arab Bitcoin.

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