The SIX Digital Exchange (SDX) has been awarded a Swiss Financial Market Supervisory Authority (FINMA) license to trade digital assets using distributed ledger technology (DLT), it announced on Friday.
This authorization enables SDX to operate a fully regulated, integrated trading, settlement, and custody infrastructure for digital assets. SDX is backing the new technology in order to reduce trading delays and save on costs.
SDX's parent company, SIX Group, owned by several Swiss banks, already operates Switzerland's largest traditional stock exchange. "This is an important milestone in bringing the digitalization of capital markets into the mainstream, but it is only the beginning," says Thomas Zeeb, Global Head, of Exchanges & Member Executive Board at SIX.
