SIX Swiss Exchange to Develop Franc Backed Stablecoin

In addition, in the second half of 2019, the company plans to launch a digital tokens exchange based on the blockchain
23 May 2019   217

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.

Thomas Zeeb

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.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.