Switzerland Opening a Cryptocurrency Exchange
The Swiss stock exchange is preparing to open a cryptocurrency exchange, the 1st of its kind in the world.
The plan, unveiled Friday by the Swiss stock exchange operator SIX, is to build a “fully integrated trading, settlement and custody infrastructure for digital assets,” in order to “provide a safe environment for issuing and trading” established cryptocurrencies such as bitcoin, and tokens issued in so-called initial coin offerings.
The custody aspect is notable, as the safety of stored cryptocurrencies is 1 of the big fears in this market.
“This is the beginning of a new era for capital markets infrastructures. For us it is abundantly clear that much of what is going on in the digital space is here to stay and will define the future of our industry,” said SIX CEO Jos Dijsselhof.
Below is a promotional interview with the company’s head of securities and exchanges, Thomas Zeeb, in it he sets out the timeline for this project.
SIX hopes to go live with this new exchange in 1-H of Y 2019, regulatory permission pending.
Meanwhile, Gemini, a New York-based cryptocurrency exchange, made a significant hire: New York Stock Exchange Chief Information Officer Robert Cornish.
Gemini President Cameron Winklevoss said in an interview that Mr. Cornish will help build out its cryptocurrency platform.
Mr. Cornish will be tasked with expanding the range of products that Gemini offers clients with the idea that over time, larger institutional clients such as hedge funds will be investing in cryptocurrencies.
Gemini currently supports a number of cryptocurrencies, including Bitcoin, bitcoin cash, Ether, zcash and litecoin is coming.
Have a terrific weekend.