The company is also planning to launch a blockchain-powered exchange for digital tokens in the second half of 2019.
Financial service provider SIX is developing a stablecoin pegged to the Swiss franc, a company spokesman confirmed to Cointelegraph on May 23.
The company is also planning to launch a blockchain-powered exchange for digital tokens in the second half of 2019, but the spokesman said he was currently not at liberty to discuss further details concerning whether the stablecoin will operate on that exchange.
SIX also runs Switzerland’s top stock exchange — and earlier this month, a top executive revealed that the company is planning to issue its own tokens on the upcoming digital exchange. Thomas Zeeb, SIX’s head of securities and exchanges, said at the time:
“Ultimately we want to be able to tokenize existing securities — equities, fixed income, funds. Maybe the token will eventually replace the share one day.”
Testing is expected to begin later in the summer, paving the way for a live rollout early next year. It is unclear whether the stablecoin will be ready in time for this launch.
Last year, the SIX Swiss Exchange announced plans to list the world’s first crypto-based exchange-traded product (ETP) — tracking a basket of five major coins including bitcoin (BTC), ripple (XRP) and ethereum (ETH).
An ETH-based ETP, backed by the Swiss startup Amun AG, began trading on March 5.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.