Swiss Exchange SIX Expands Into Cryptocurrency Trading

The Swiss Stock Exchange, SIX, is setting its sights on the digital asset market by establishing a foothold in Europe for cryptocurrency trading.

This move aims to position SIX among major players like Binance and Coinbase.

SIX’s entry into the crypto sector is bolstered by Switzerland’s progressive crypto regulations, which facilitate participation from traditional investors. This shift comes as traditional financial institutions have hesitated to enter the crypto space due to regulatory uncertainties. However, recent developments, including ZKB’s launch of Bitcoin and Ethereum trading and custody services, signal growing acceptance.

Bjørn Sibbern, global head of exchanges at SIX Group, indicated that the exchange is exploring the creation of a platform for trading both spot and derivative cryptocurrencies. Initially, this platform will cater exclusively to institutional investors.

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SIX’s expansion into crypto trading also represents a strategic move to compete with other exchanges like Coinbase and Binance, especially as Coinbase continues to expand in Europe under new regulations. Additionally, SIX’s experience with digital assets includes running a crypto derivatives firm in Singapore in partnership with Japan’s SBI Group.

Kosta Gushterov