According to CoinDesk's May 22 report, the Swiss National Stock Exchange group SIX is working to create its own "stabilized currency", a cryptocurrency linked to the Swiss franc to promote the SIX Digital Exchange (SDX). On the transaction. A spokesperson for SIX confirmed the news in an email and told CoinDesk:
“Yes, we are currently studying a Swiss franc stable currency.”
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SIX can't provide more details about whether this cryptocurrency, supported by the Swiss franc, will be used internally for SDX (like JPM Coin of JPMorgan Chase), or as open to the public as the stable currency of cryptocurrency exchanges.
Within SDX, a currency-backed token can be used to help perform tasks such as atomic exchange of tokenized securities and other assets on the blockchain.
Pioneer in the field of encryption
From the perspective of financial market infrastructure, SIX is clearly becoming a pioneer in the field of encryption.
In July last year, SIX said that SDX will be put into operation in the second half of 2019, first to tokenize stocks and bonds, and then continue to explore digital versions of other physical assets such as works of art. SDX also focuses on the so-called "Securitization Certification Issue" (STO), the chairman of the exchange said that SIX may even raise some funds through STO.
Innovation in the field of encryption driven by SIX and SDX seems to be a huge attraction for other digital asset platforms.
It is worth noting that the German stock exchange Deutsche Borse, the parent company of the Frankfurt Stock Exchange, is working with Swisscom-backed Swisscom to test token technology in Switzerland.
Recently, the Russian National Settlement Depository (NSD) announced that it will launch its D3 blockchain and cryptocurrency ledger in Switzerland.
Why use stable currency?
In an interview with CoinDesk, NSD's innovation director and director Artem Duvanov said that D3 will add a suitable stable currency to the platform, he mentioned Gemini's GUSD. Duvanov said:
“Stabilized currency supported by central bank or bank funds will drive adoption of D3Ledger and other financial distributed ledger technology platforms. The reason is simple: when you have a blockchain-based stable currency, you can better automate the process. And create more value through smart contracts, not only about delivery and payment, but also about many corporate behaviors, such as dividend distribution."