Swiss Stock Exchange Eyes Crypto Trading Platform for Institutional Investors in Europe

Swiss Stock Exchange Eyes Crypto Trading Platform for Institutional Investors in Europe

Switzerland’s SIX Group, operator of the Swiss stock exchange, is exploring the possibility of launching a dedicated cryptocurrency trading platform in Europe, according to a report by the Financial Times. The move is intended to appeal to traditional investors, leveraging Switzerland’s favorable regulatory environment for cryptocurrencies.

Bjørn Sibbern, global head of exchanges at SIX Group, revealed that the firm aims to challenge established crypto exchanges like Binance, OKX, and Coinbase. The group plans to capitalize on its strong reputation and Switzerland’s progressive crypto regulations to draw institutional investors into the digital asset space. Sibbern noted that cryptocurrencies are increasingly being recognized as a legitimate asset class, prompting the company to consider entering the market.

The platform, still in the conceptual phase, is expected to support both spot crypto trading and derivatives. However, Sibbern did not specify a timeline for its launch.

Targeting Institutional Investors Only

Unlike other trading platforms that cater to a wider audience, SIX’s new venture will focus exclusively on institutional investors. Sibbern highlighted that as global banks and financial institutions grow more interested in crypto, the demand for secure, regulated trading venues is rising. The platform aims to capitalize on Switzerland’s well-established legal framework governing digital assets, particularly in areas such as asset trading and custody.

Several financial heavyweights, including Deutsche Börse, Nomura, and Standard Chartered, have already launched crypto trading platforms in response to this growing demand. SIX Group’s potential entry into the space would further solidify Switzerland’s position as a global leader in crypto innovation.

In a related development, the Swiss Financial Market Supervisory Authority (FINMA) issued new guidance in late July addressing the risks posed by stablecoins. The regulator emphasized the importance of verifying token holders’ and beneficial owners’ identities to mitigate potential risks for issuers and banks providing guarantees.