Earlier this week during the SIBOS banking event Tim Grant gave a progress update on the Swiss stock exchange’s SIX Digital Exchange (SDX). The Head of SDX said it will “hopefully” launch in Q1 of next year. It’s not entirely within SIX’s control because it hasn’t yet been granted a license by Swiss regulator FINMA. It needs one license to operate a digital asset exchange and another as a Central Securities Depositary (CSD) for digital assets. And Grant teased about the likelihood of the launch including a central bank digital currency, saying it’s the direction they’re heading.
At last year’s SIBOS, SDX launched a platform prototype, including digital security token issuance, live trading, and instant settlement.
Grant said the FINMA work was progressing well, as is the development of the technology platform. He outlined SDX’s vision to create a global liquidity pool for this new digital asset class, emphasizing that the focus was not just on Switzerland or Spain after SIX recently acquired BME. But he managed expectations, saying it will take years after launch to fully make the vision a reality.
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