• The  Swiss Stock Exchange is working on a stable coin begged to the Swiss Franc.
  • The coin will be used to facilitate operations on SIX Digital Exchange.

The Swiss national stock exchange group, also known as SIX, is creating its own digital asset pegged to the Swiss Franc. The resulting stablecoin will be used to facilitate operations on the SIX Digital Exchange (SDX),  CoinDesk reports

As the exchange did not provide details on the project, it is not clear, if the CHF-based stablecoin will function as a private tool for solely to SDX customers, similar to JPM Coin developed by JPMorgan Chase, or it will be publicly available on the cryptocurrency exchanges.

Basically, a fiat-backed SDX will facilitate certain operations like atomic swaps of tokenized securities and other blockchain-based assets.

SIX announced the creation of SDX in July 2019; the platform is scheduled to go online in the second half of 2019. The exchange will support operations with tokenizing stocks and bonds and expand the list of available digitalized versions o physical assets at a later stage.

Apart from that, SDX will provide an infrastructure of trading security token offerings (STOs). According to the chairman of the exchange, it may become a platform for raising funds via STO issuance.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin: 100x growth in next 9 years?

BTCC head Bobby Lee waits for Bitcoin for $1 million in 9 years due to the unwise policy of central banks, as well as due to demand on "digital gold". But this is then, and for now, Bitcoin is unable to hold even above $9K.

More Bitcoin News

Litecoin (LTC) locked in a range amid low market activity

Litecoin (LTC), the sixth-largest digital asset, has been moving sideways recently. The coin has stayed mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. 

More Litecoin News

Crypto Today: China promises not to use digital Yuan to intrusion

The main actors of the crypto board continue to express the lack of trend force that began on Monday. Cardano stands out today with a rise of 2.15% against the US dollar.

More Cryptocurrencies News

Ripple price prediction: XRP/USD drifts towards $0.2700 – Confluence Detector

Ripple’s XRP has been drifting down towards the support area at $0.2700 since the beginning of the week. The coin touched $0.2893 low on Monday, though a host of stop orders located around $0.2700 stopped the sell-off and pushed the price to $0.2730.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP