Due to current market conditions, SIX Swiss Exchange has postponed the launch of SIX Digital Exchange (SDX), a crypto services entity.
noteworthy is The stock exchange is Switzerland’s main stock exchange. and the 3rd largest of its type in Europe in September last year The country’s regulators have providedgreen lightTo launch Crypto-related services only with regulated institutions. Specifically, SDX plans to provide custody and stake services to banks, hedge funds. and other licensed financial companies
SIX Swiss Exchange Ends Launch of Crypto Services
Due to “current market conditions,” the launch of crypto services has been postponed indefinitely, The Wall Street Journal. report
in the past year Several traditional Swiss financial players have taken part in the cryptocurrency industry. In addition to the SIX Swiss Exchange, there are the Arab Bank of Switzerland, BBVA Bank and the largest online bank Swissquote. of the country The stock exchange is expected to reach the wealthy of the country to make cryptocurrencies It’s part of their portfolio.
Recently, however, the crypto market has lost billions of dollars in value. As the overall market capitalization dropped below $1 trillion and Bitcoin (BTC) fell below $20K, trading at $18,900 at the time of writing.
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