The Swiss National Bank has been requested by Swiss stock exchange SIX to issue a stablecoin

SIX are the principal Swiss stock exchange to issue a crypto asset in the form of stablecoin.
“SDX would accept CHF payments from member banks in central bank money and issue equivalent tokenised CHF in SDX, which is the company’s upcoming platform.

Ken Chigbo Independent Analyst

The SNB has been request by the principal Swiss stock exchange SIX to exploring issuing a stablecoin, according to local media. The report suggests that the crypto asset would be used to settle payments on its new digital securities trading platform.

SIX announced recently at the Crypto Valley Association that their users will be able to partake in its upcoming SDX platform and perform a swap of fiat currency for a new stablecoin.

Additionally, SIX noted that the tokens can also be coined on-demand and explained:

SDX would accept CHF payments from member banks in central bank money and issue equivalent tokenised CHF in SDX. The value of tokenised CHF would be pegged 1:1 with CHF at all times. We most definitely favour a central bank issued stablecoin.

SIX further added:

“SDX would accept CHF payments from member banks in central bank money and issue equivalent tokenised CHF in SDX. The value of tokenised CHF would be pegged 1:1 with CHF at all times. We most definitely favour a central bank issued stablecoin.”

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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