Swiss Stock Exchange will launch a blockchain platform

SIX, the largest stock exchange of Switzerland, reported on the launch plans for its trading platform based on the blockchain in the second half of 2019.

The head of the Romeo Laher Exchange spoke about the development of SIX Digital Exchange (SDX), which will initially function in a tandem with a valid platform. According to him, now every transaction includes a number of stages, the passage of which can take several days. However, the distributed registry allows you to get rid of two procedures and reduce the shopping cycle until a second.

It is expected that SDX will work with a broader list of securities. In the future, some supported assets can be represented in a tokenized form. Even the possibility of trade in non-standard tools, such as paintings or rare cars, is considered.

The Supervisory Board will most likely receive a final decision in the summer of 2019, since legal issues with local regulatory authorities are still being discussed. After starting the blockchain-platform, it is also planned to be used to attract funds by conducting STO (Security Token Offering).

Technology blockchain is increasingly used by traditional financial institutions. Recently it became known that six commercial banks from Saudi Arabia and the United Arab Emirates