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The Swiss stock exchange is considering launching a crypto trading platform in Europe, aiming to attract traditional investors by leveraging Switzerland’s crypto-friendly laws.
Swiss Stock Exchange Operator Plans Crypto Platform
The Swiss stock exchange operator, SIX Group, is considering establishing a new platform in Europe for crypto trading, aiming to challenge major players like Binance, OKX, and Coinbase. Bjørn Sibbern, global head of exchanges at SIX Group, highlights the company’s intention to leverage its reputation and Switzerland’s progressive crypto regulations to attract institutional investors interested in crypto trading.
Capitalizing on Crypto as a Recognized Asset Class
Sibbern mentions that the stock exchange is mulling over the idea given that crypto has become “more and more a recognized asset class.” Currently, the company is evaluating the creation of a platform “where we can help facilitate trading, whether it is [spot] crypto or whether it is derivatives,” he added.
Focus on Institutional Investors
The new venue would be open exclusively to institutional investors. An increasing number of global banks and institutions are now exploring opportunities in crypto, and the platform aims to capitalize on Switzerland’s crypto-friendly environment, where clear regulations govern asset trading and custody.
Regulatory Developments in Switzerland
In late July, the Swiss Financial Market Supervisory Authority published guidance addressing the risks and challenges associated with stablecoins for issuers and banks providing guarantees. The regulator underscored the necessity for stablecoin issuers to verify the identities of token holders and beneficial owners to mitigate these risks.
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