Swiss Exchange SIX To Launch Blockchain-powered Digital Exchange

Swiss Exchange SIX plans to launch the blockchain-powered digital trading platform (SIX Digital Exchange, SDX) in the second half of 2019, with the current SIX running simultaneously, according to Reuters on February 6.

With the blockchain-powered digital trading platform (SDX), a transaction process will take a few seconds to complete, compared against several days via the current SIX platform.

The Chairman of SIX, Romeo Lacher told Reuters that the company aims to start with its own Security Token Offering (STO). However, SIX has not yet announced the specific launch date.

In November 2018, Reuters mentioned that SIX plans to replace its traditional trading platform with a blockchain-based platform within 10 years.

Meanwhile, other exchanges are trying to catch up and also launch infrastructure with blockchain technology.

Börse Stuttgart Group, the ninth largest stock exchange in Europe, recently revealed its mobile app for crypto trading, BISON. Developed by Sowa Lab,  a subsidiary of Boerse Stuttgart Digital Ventures, BISON will support cryptos such as Bitcoin, XRP and Ethereum. Currently, the app is only available in Germany, but the company plans to expand its services to other EU countries as well during 2019.

Ulwa Spankowski, CEO of Sowa Labs, described BISON as "the first cryptocurrency trading app from a provider in Germany.”

To make crypto assets mainstream, one of the most powerful players on Wall Street and the owner of the New York Stock Exchange, the Intercontinental Exchange (ICE) has also announced its plan to launch crypto exchange Bakkt last year.

As Fortune concluded: "Bakkt aims to make Bitcoin trading safe for Wall Street." So far, the much-anticipated digital assets platform Bakkt has been a long-awaited process for sure.

Image source: Pixabay
Author: Nicole Wei
Disclosure: I don't hold any bitcoin and other cryptocurrencies.

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