SIX Stock Exchange Likes ICO Model, Crypto Trading Desk Not A Priority
The Swiss Stock Exchange known as SIX is reluctant to invest any resources into cryptocurrency. CEO of the exchange Thomas Zeeb has stated that cryptocurrency isn’t a priority for them. One reason is there is already enough platforms on which Bitcoin is exchanged. Bitcoin also has some issues with its reputation, with the view of the exchange not falling for normal hype.
SIX, also head of the Swiss securities has at sometimes expressed support for virtual assets. More specifically, they see ICOs as the way of the future – understanding their importance – and that they aren’t going anywhere anytime soon. There will likely be a mainstream run for initial coin offerings in the next three to five years.
As far as Zeeb can see, cryptocurrency is no different than that of derivatives in the 1990s. However, cryptocurrency differs in that it likely won’t take another 25-30 years before we see it adopted for everyday use. The new era of digital asset trading is here – and SIX is developing their own system – one that has regulations which fall within their own accord – with initial coin offerings considered the highest focus for investors who will participate on the platform.
The primary focus will be to build a bridge that will close the gap between ICOs and traditional crowdfunding platforms, which as of now is only done by venture capital firms or private investors. There is a need in the industry for a legit method of mainstream cryptocurrency adoption.
Another primary focus of SIX will be to turn already existing securities into their digital equivalent, making it possible for fractional ownership of them. Some of the securities looked at are collectibles like art pieces or even partial ownership of an actual gallery.
SIX plans on launching the first fully regulated cryptocurrency exchange sometime in 2019 – complete with a fully functional ecosystem – where users can connect with others looking to trade as well. They will also launch a new platform for trading services that will be started mid-2019 as well.