Bitcoin News and Finance
Stock Exchange SIX Aims to List Bitcoin on SDX, Crypto Trading Platform to Launch This Summer Skip to main content

Stock Exchange SIX Aims to List Bitcoin on SDX, Crypto Trading Platform to Launch This Summer

Stock Exchange SIX Aims to List Bitcoin on SDX, Crypto Trading Platform to Launch This Summer

On March 17, a report detailed that the digital exchange being developed by Switzerland’s principal stock exchange SIX is preparing to launch by the summer of 2021. The exchange called SIX Digital Exchange (SDX) reportedly will also offer bitcoin, alongside the possibility of non-fungible token (NFT) assets like tokenized works of art.

SIX to Launch SDX by the Summer, Bitcoin to be Listed on the SIX Digital Exchange

The exchange SIX based in Zurich is Switzerland’s most popular stock exchange that allows people to trade stock options, derivatives, Swiss government bonds, and other types of securities. Not only has SIX offered exchange-traded products focused on digital currencies like bitcoin (BTC) and ethereum (ETH), the stock exchange is launching a crypto asset exchange called SIX Digital Exchange (SDX) in the near future.

A report written by Finews author Samuel Gerber notes in a recently published report that SDX is planning to launch soon and in addition to securitized crypto assets, the leading cryptocurrency bitcoin (BTC) will also be listed.

Gerber says that SDX is “relying on an ecosystem of partners and SIX investments.” One partnership Gerber mentioned was SDX’s collaboration with the Daura consortium, a project that aims to launch Swiss cryptocurrency shares.

The well known bank that also deals with cryptocurrencies, Sygnum, is also a member of the Daura consortium. During the first week of December 2020, SDX also announced partnering with SBI Digital Asset Holdings. The joint venture between SDX and SBI aims to build a regional liquidity hub for institutional digital assets in Singapore.

Tokenized Works of Art and Traditional Banks Getting Into Cryptocurrencies

Gerber’s report says that SDX’s launch has been delayed because of the coronavirus and also a search for external sponsors. SDX was supposed to launch during the last quarter of 2020, but it is still looking for additional shareholders in addition to the partners and Swiss banks who have already collaborated with SIX. Additionally, the Finews report highlights that SDX may also list non-fungible token (NFT) assets like blockchain collectibles and tokenized works of art.

Eric Schmalzbauer, Head of U.S. Clients and Product Management at SDX thinks a lot of innovative blockchain products and crypto-related announcements will continue to happen in 2021. Schmalzbauer said that he thinks the biggest announcements this year so far, stemmed from the likes of Microstrategy and Tesla purchasing bitcoin (BTC). The SDX executive believes that big banks will follow along with these large corporations soon.

The recent interview with Schmalzbauer follows the announcement from the bank Morgan Stanley, which is making three bitcoin funds available to clientele. “I believe that traditional banks, especially the bigger banks, will get involved in the later future, as they are highly regulated, and the crypto space is not mature enough yet,” Schmalzbauer detailed during his interview.

“Many people may question the viability of crypto or bitcoin as a safe haven asset,” Schmalzbauer insisted. “Still, I think that over time, cryptocurrencies will help to facilitate the management of cash operations and balance sheets,” he added.

What do you think about SIX’s SDX trading platform launching this summer? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory