Switzerland’s main inventory alternate, SIX Swiss Exchange, has introduced a partnership with Omniex – a San Francisco based mostly agency that develops buying and selling platforms designed for institutional traders focusing on the crypto asset markets.
According to a Feb. 25 press launch printed by SIX, the partnership will present the agency and its shoppers with a gateway to digital exchanges together with crypto and market makers. The deal has additionally seen SIX change into an Omniex shareholder after investing of an undisclosed sum.
The partnership will lengthen to SIX’s forthcoming SIX Digital Exchange (SDX), as well as to future belongings listed on the SDX platform.
SIX responds to demand for crypto gateway
SIX Executive Board member, Thomas Zeeb, acknowledged that the alternate had recognized a “growing need in the market to access crypto,” including: “Our new collaboration will provide a standardized and secure gateway via SIX as the trusted partner of the financial industry.”
Omniex’s CEO and Co-Founder, Hu Liang, stated that the partnership is slated to produce “an end-to-end solution for the trading and settlement of digital assets, including the SIX Digital Exchange (SDX),” when it goes reside.
The Omniex government additionally praised Switzerland’s permissive regulatory equipment surrounding cryptocurrencies, asserting that the “Swiss market leads other major financial markets in the adoption of legislation and regulation.”
SDX slated for 2020 launch
SIX introduced that it might launch a digital asset alternate on July 6, 2018. The inventory alternate described the forthcoming platform as “a fully integrated trading, settlement, and custody infrastructure for digital assets” overseen by Swiss regulators.
On Sept. 23, 2019, SIX deployed an SDX prototype to reveal settlement utilizing distributed ledger expertise, safety token issuance, and reside buying and selling. SIX presently plans to conduct an “Initial Digital Offering” for SDX throughout mid-2020, earlier than launching the digital asset alternate through the fourth quarter.