A new Swiss stock exchange has been awarded a license to trade digital assets using distributed ledger technology (DLT). On Friday, the SIX Digital Exchange (SDX) was given the go-ahead by the Swiss Financial Market Supervisory Authority (FINMA) to operate as a stock exchange and central securities depository. The licensing milestone means that SDX can now trade securities, such as company shares and bonds, on a digital platform that is similar to blockchain. SDX is backing the new technology to reduce trading delays and save on costs. SDX’s parent company is SIX Group, which is owned by several Swiss banks and already operates Switzerland’s largest traditional stock exchange. In a statement, SIX said it will start onboarding financial firms around the world and exploring partnerships to “create a global exchange network for digital assets, unlocking global liquidity”. It has already joined a consortium to build a DLT exchange in Singapore, along with a Japanese company that...
