The Swiss Stock Exchange will launch ETP based on Bitwise 10

Switzerland's largest stock exchange SIX will launch a financial product based on the Bitwise 10 cryptocurrency index, according to a press release .

To do this, Bitwise Index Services has issued the appropriate license of the Swiss fintech company Amun AG. Below are the components of the Bitwise 10 Select Large Cap cryptocurrency index underlying the traded product (ETP):

According to the head of Bitwise’s research department, Matt Hougan, the Bitwise index provides users with “diversified access to cryptocurrency markets.” The new ETP, however, will not be available to US residents.

In addition, according to swissinfo , the Swiss stock exchange has offered the central bank of the country to issue a cryptocurrency. A new means of payment SIX plans to use for the calculation of tokenized securities. As the newspaper notes, if the central bank agrees, it will serve as a positive signal of a more favorable attitude of regulators to new assets.

The stock exchange intends to use the stablebink on the basis of the Swiss franc, which, if necessary, can be exchanged for cash.

“The participating banks of SDX [the upcoming platform for trading digital assets] will be able to carry out transactions and fulfill other obligations using tokenized francs as soon as we start and begin work. To do this, SDX will accept Fiat payments in Swiss francs from participating banks and issue tokenized cash equivalents. The cost of the token will always be pegged to the Swiss franc in a 1: 1 ratio. We definitely support the release of a steyblecoin by the central bank , ”said SIX representatives.

Recall that the SIX Stock Exchange plans to launch its own platform for trading digital assets with a native token and a primary digital offering service next year.

Also earlier, BlockchainJournal reported that SIX had launched an investment product based on the XRP token from a startup Ripple.

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