Tanya Abrosimova
Independent Analyst
- The operator of the largest stock exchange in Switzerland may add cryptos to the list of tradable assets on its new exchange.
- Market reaction is positive if not spectacular.
Another crypto positive news came from Switzerland, where SIX Group, the parent company of the Swiss stock exchange, announced that it had been considering cryptocurrency trading on its upcoming platform, scheduled to go online by mid-2019.
SIX Group runs the countries main stock exchange and is about to launch fully-regulated form for digital assets, which will cover a wide range of services, including consulting for ICO projects.
"With the new service we will provide a safe environment for issuing and trading digital assets, and enable the tokenisation of existing securities and non-bankable assets to make previously untradeable assets tradeable," SIX Group spokesman Stephan Meier explained in the interview with swissinfo.
While he clarified that the complete list of products is yet to be defined, he did not rule out the possibility that cryptocurrencies would be available for trading.
"Currently we are focusing on building the platform and no decision has yet been made as to which specific products will be offered to list and trade. So it is also still open whether cryptocurrencies or already existing ICO tokens can be traded. But we will technically be able to add various digital assets to the platform," he said/
"It is also still open whether cryptocurrencies can be traded and how a conversion into fiat would be facilitated."
Meier's comments enhanced positive sentiments on the cryptocurrency markets and helped the coins to stay in the green zone for the best part of the weekend. Bitcoin, the digital coin No.1 is trading at $6,362 off Sunday's low at $6,283. Ethereum came close to $450 amid some buying interest registered late on Sunday, trading around $447 during early Asian hours. Ripple (XRP) shows similar momentum. The coin recovered from $0.4375 to trade at $0.4450 to press time.
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