Europe is always curious to take a lead in technological advancements. They are also quite keen to invest in different techs, and Switzerland just proved it.
Swiss stock exchange is all set to put the country in fifth gear and embrace the wave of huge crypto investment. Basically, the aim is to make crypto asset trading more feasible for potential clients.
Please note that SIX Group runs the Swiss Stock Exchange and it happens to be the leader in introducing blockchain-based trading of such assets.
What is the motivation?
In short? The recent trends in the cryptocurrency market have motivated the stakeholders to embrace this change.
Previously, a variety of crypto exchanges were launched, but their scope was quite limited. However, in the last 12 months, we have observed many stock exchanges striving to work on blockchain models. This is not only an approach to attract cryptocurrency investment, but it also allows them to work efficiently on
For instance, Stuttgart Stock Exchange is also gearing up towards launching its application for cryptocurrency investment. It plans to offer feasibility with the help of a subsidiary. Later on, the company also wants to allow multiple pair trading.
A sneak into the future
All the major exchanges of the developed countries are eyeing at adopting the tech at this stage in order to yield maximum benefits in the near future. SIX made it clear that they plan to launch the exchange in 2019.
Although they are very determined to move forward, they are least interested in making any mistakes. Therefore, SIX is moving slow, and the exchange plans to enlist only a handful of services in the beginning.
Daniel Diemers happens to be an advisor to SIX. He states that they could make the business model profitable by allowing potential investors to trade ‘everything’ under one roof. In this era, people do not want to indulge in any activity which requires a variety of steps. They just want to get it done ASAP.
So if SIX succeeds in providing quality and efficiency, there should not be any hurdle in boosting Switzerland’s revenue.