According to the Financial Times, Swiss Exchange Group (SIX Group) is exploring the creation of a cryptocurrency trading platform in Europe in an attempt to enter a market dominated by established digital asset companies such as Binance, OKX and Coinbase.
SIX Group is looking to leverage its reputation and Switzerland's progressive cryptocurrency laws to attract large traditional investors who are increasingly interested in trading digital assets. Bjørn Sibbern, global head of exchange at SIX Group, said in an interview with the Financial Times: "The trend we are seeing is that more and more international banks and institutions are paying attention to cryptocurrencies."
Sibbern said that "cryptocurrencies have become an increasingly recognized asset class" and that the company is looking into establishing "a platform where we can help facilitate transactions, whether it is cryptocurrency (spot) or derivatives." He said the trading venue would only be open to institutional investors such as asset management companies.
The Swiss group owned by 120 banks operates an independent digital exchange that has been listed since 2018 by institutions including UBS and the city government of Lugano 9 digital bonds issued. Sibbern said the digital exchange "may...expand this concept" to include cryptocurrency trading.
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