The News that SIX, owner and operator of the Swiss stock exchange is launching its own fully-regulated cryptocurrency platform is very positive and indicative that cryptocurrency has its place in the new digital economy.
Even though the cryptocurrency market has shown much volatility in 2018, the market cap is significantly up from a year ago. As SIX CEO Jos Dijsselhos said “It is abundantly clear that much of what is going on in the digital space is here to stay”
Off the back of this exciting news, Gianluca Giancola, Co-founder and Head of UX & Design at blockchain-powered loyalty ecosystem qiibee, commented: “The launch of a cryptocurrency exchange by the Swiss bourse this year will help to drive mainstream recognition and interest, making trading with cryptocurrencies much more secure.
This development highlights the conviction of Swiss leaders that cryptocurrencies are here to stay, and I believe that this will further boost Switzerland’s position as a crypto nation. The bourse’s crypto exchange will act as a catalyst to bring more transparency and security to the blockchain industry in Switzerland, and shows institutional interest where regulation of the market is concerned.
Digital currency systems make transactions more cost and time efficient, especially with regards to cross-border activities, and has the potential to attract outside investors and revolutionize the existing capital market infrastructure. The digitization of existing financial processes will also help optimize these processes. I believe that crypto has the ability to improve every point of contact in the chain and will continue to disrupt the current global monetary system.”
Following the announcement, Shane Brett, Co-founder and CEO of GECKO Governance, provider of ICO compliance solution GECKO Crypto1, added: “This step displays the growing level of confidence which entities such as the Swiss stock exchange and FINMA are placing in the growing blockchain sector, and the increasing understanding of how regulation, transparency, and trust influence perception and uptake of the technology. Switzerland has shown itself to be a hub for blockchain companies, and this announcement further bolsters that reputation. The launch of a fully regulated crypto exchange further highlights Switzerland’s forward-thinking approach to digital assets and cryptocurrencies. Such dynamism and willingness by institutional actors to engage with this emerging economy will hugely benefit the global blockchain ecosystem, particularly once other nations take similar actions.”
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