Switzerland: SIX Digital Exchange opening its doors to NFTs
Switzerland: SIX Digital Exchange opening its doors to NFTs

Switzerland: SIX Digital Exchange opening its doors to NFTs

By Stefania Stimolo - 30 Nov 2021

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Switzerland-based traditional finance and crypto-asset trading platform SIX Digital Exchange, or SDX, said it may soon open its doors to NFTs and become an infrastructure for these assets. 

Switzerland and SIX Digital Exchange set to include NFTs

According to the interview reported on Coindesk, after a seemingly endless wait for licenses from the Swiss Financial Market Supervisory Authority (FINMA), the SIX Digital Exchange is discussing ambitions to also include Non Fungible Tokens. 

Thomas Zeeb, Chairman of SDX, whose parent company is SIX Group, the operator of the Swiss National Stock Exchange, confirmed that the “doors are open”. 

Specifically here is his comment:

“Expect to see an acceleration of some of the pent-up stuff we’ve been keeping a lid on for a while. I see absolutely no reason why SDX wouldn’t be a desirable infrastructure for NFTs”.

Not only that, Zeeb also talked about global liquidity, specifying that with SDX they are ready to launch a pipeline of tokenized products like stocks, dedicated to digital investors looking to benefit from the liquidity and price discovery associated with assets that are on a comprehensive exchange.

Zeeb added:

“We’ve got a lot of private market stuff that wouldn’t have the liquidity. So, it’s promissory notes; it’s art funds, that, as you would expect at the moment, has the whole NFT piece as well”.

SIX Digital Exchange and stablecoin news 

Another area where SIX Digital Exchange will soon have a solution is stablecoins and the Central Bank Digital Currency (CBDC). 

It was in May 2019, when SDX had stated that it had started work on developing its own stablecoin, a cryptocurrency pegged to the Swiss franc, to facilitate transactions on its exchange. 

In the latest interview, it appears that its work has also involved the Bank for International Settlements (BIS) to develop a Swiss National Bank (SNB) digital currency, overseen by the Bank of France, to connect with a euro-denominated CBDC token. 

Again, Zeeb stated:

“There will be some stuff coming out shortly on where we stand with that,” Zeeb said. “It’s an interesting development given that BIS is involved, and obviously there are links to what they’re doing in Singapore, as well as driving forward the stuff in Europe, both with the Banque de France and with ourselves”.

Not only that, on the subject of SDX’s Swiss franc stablecoin, the deal with the Swiss National Bank (SNB) would see the exchange lock Swiss francs into an account with the central bank and issue the stablecoin. Zeeb explains that they are waiting for the SNB to be ready to proceed.

Switzerland and NFTs: the November event in Lugano

Switzerland seems to be a trailblazer when it comes to NFTs. 

In mid-November, Lugano NFT Week took place: a whole week of exhibitions, events and workshops on the fascinating world of Crypto Art and Non Fungible Tokens. 

Exactly from the 15th to the 21st of November and organized by Lugano Living Labs, the NFT world took centre stage, with dedicated Talk events involving NFT Art, NFT gaming, NFT and metaverse and also play-to-earn NFTs. 

The NFT exhibition in Lugano was the first ever organized in Europe, with the likes of the Poseidon NFT Fund presenting their collection, one of the largest and most conspicuous in Europe. 

The Cryptonomist, based in Lugano, also took part in the event, introducing in the same month new activities related to the world of NFTs.

This is the editorial project of “The NFT Magazine” created in collaboration with ArtRights, which will make its second drop in public sale on December 2nd on OpenSea.

Furthermore, there’s also the launch of the NFT series dedicated to Cryppo, the first hippopotamus cryptonomus, our magazine’s mascot for years, which will see its public sale from 21 December at 6:00 PM CET on OpenSea. 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

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