SIX Swiss Exchange, the largest stock exchange in Switzerland, is developing its own stablecoin, the price of which will be pegged to the local franc. This is reported by the Cointelegraph.
In addition, in the second half of 2019, the company plans to launch a digital tokens exchange based on the blockchain, however, at this stage, the SIX Swiss Exchange is not ready to confirm whether it will support developed stablecoin.
Earlier in May, SIX Swiss Exchange announced that it would launch its own platform for trading digital assets with a native token and a initial digital offering (IDO) service.
As then stated the head of the securities department of the stock exchange, Thomas Seeb, SIX had already addressed a number of companies that intend to launch tokenized tools such as traditional securities, private shares or funds. In this regard, the exchange is seriously considering the possibility of creating its token as a platform for 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.
Head of securities and exchanges, SIX
Testing of the new site should begin this summer, and the launch, as expected, will take place in the beginning of 2020, but it is unclear whether the mentioned stablecoin will be ready by that time.