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Switzerland’s SIX Group, the operator of the Swiss stock exchange, is considering launching a crypto trading platform in Europe to capture a share of the growing digital assets market. This initiative would leverage Switzerland’s favorable crypto regulations and the country’s reputation as a financial hub to attract institutional investors who are becoming more interested in cryptocurrencies.
Bjørn Sibbern, global head of exchanges at SIX Group, stated that they are exploring the possibility of creating a platform for trading both spot crypto and derivatives, targeting large institutional investors like asset managers. This move comes amid growing acceptance of cryptocurrencies as a legitimate asset class, particularly following the approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) by the US Securities and Exchange Commission earlier this year.
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Switzerland has positioned itself as one of the most crypto-friendly countries in Europe, with comprehensive laws governing the trading, custody, and classification of digital assets. This regulatory environment makes it an attractive location for launching a crypto exchange.
SIX already has experience in the crypto space, running a crypto derivatives platform in Singapore called AsiaNext in partnership with Japan’s SBI Group. The company is now considering expanding a similar offering in Europe, though it is still undecided.
SIX’s digital exchange, which has been listing digital bonds since 2018, could potentially expand to include crypto trading. This would mark a significant step for the group, which operates some of Europe’s major stock exchanges, including those in Switzerland and Madrid, and has hosted notable IPOs such as Spanish beauty brand Puig and dermatology group Galderma.
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