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The cryptocurrency trade was managed by specialized Internet companies. Now, with the operator of the Swiss Stock Exchange SIX an established financial services provider also enters the digital asset sector. Yesterday, SIX announced the development of a securities trading platform based on blockchain technology. "A new age is emerging for the infrastructure of the financial markets," says Jos Dijsselhof, SIX's boss. The stock trader wants to bridge the gap between traditional financial services and digital offerings as a bridge builder
Bitcoin is the most important digital currency based on so-called blockchain technology. Ethereum, ripple or litecoin are other cryptocurrencies. These online currencies are created using complex computer calculations. Transfers go directly between market participants without the intervention of a bank. Transactions are recorded in digital currency similar to a logbook. Because of the resulting information chain, the technology is known as "blockchain".
The storage of digital valuables and the processing of transactions are managed by specialized companies. For example, in the city of Zug, you can pay for services with bitcoins. Zug cooperates with Bitcoin Switzerland. The company specializing in crypto assets has only existed for five years. Bitcoin Switzerland is one of the leading providers of financial services in the industry and operates its own Bitcoin ATMs in several cities.
The world of Bitcoin, Ripple & Co. is still a pioneer of technology, online pioneers and even hackers. In the traditional financial world, crypto currencies enjoy little confidence despite growing prevalence. This has to do with the fact that the industry is not regulated. It happens again and again that funds are stolen in online exchanges. For example, in mid-June, when pirates of South Korean cryptography Bithumb stole about 35 billion won, or about 31 million francs, cryptocurrency.
SIX has the know-how
It is assumed that cryptocurrency and blockchain financial services will prevail in everyday life with a broad base of users. As a result, stable and regulated trading venues as well as secure and complete storage facilities for digital assets will be needed in the future, "said Thomas Zeeb, Director of the SIX Stock Exchange. As an exchange operator, you know what it takes to develop and deliver the right services.
The Swiss Stock Exchange is subordinate to the Swiss Financial Market Supervisory Authority (Finma) and the Swiss National Bank. For their new online platform, they want standards comparable to those of today, according to the SIX
Early 2019
The stock trader wants offer first services in the middle of next year. What are the concrete offers planned, said SIX managers yesterday. If crypto currencies like Bitcoin can be bought and sold on the SIX future, according to the Zeeb stock market manager still open.
In the industry should try, in the booming trade with ICO (Initial Coin Offerings) to mix. In an ICO, a company buys capital by issuing digital currencies. According to the PWC consulting firm, ICO has generated about $ 13.7 billion since the beginning of the year; In Switzerland alone, 456 million dollars were collected
Other stock operators also work on blockchain projects. The Australian and Deutsche Börse have both submitted corresponding projects.
(eme)
Created: 06.07.2018, 22:03
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