The Swiss stock exchange SIX may launch its own token

• SIX Swiss Exchange sees a demand on assets digitalization.
• The company is about to launch its own digital trading platform.

SIX Swiss Exchange, the largest Switzerland’s stock exchange, is considering the issuance of its own token, the top executive of the exchange Thomas Zeeb told in the interview with Fnews.  The tokens may be issued as a part of a large plan of assets digitalization. They might eventually replace stocks and bonds.

According to Thomas Zeeb, several companies have already applied to SIX with the plans to launch tokenized instruments including traditional securities, shares or funds. Thus, the exchange is looking into the possibility of creating its own token that will be used to facilitate such initiatives.

“Ultimately we want to be able to tokenize existing securities – equities, fixed income, funds. Maybe the token will eventually replace the share one day. We would need to be able to freeze and segregate shares in one place in order to issue tokens,” he explained

Meanwhile, the exchange is creating its own digital platform – SIX Digital Exchange (SDX). The company has already invested over $10 million in the project.

“This year, we’ll deliver a pilot in late summer and first services will be live in early 2020. We will start with so-called native digital applications – launching new tokens and an initial digital offering (IDO) service,” – Zeeb commented.