Switzerland’s leading stock exchange is developing a stable coin whose value is pegged 1-to-1 with the European nation’s currency, the Swiss Franc. The SIX Swiss Exchange will utilize the stable coin in transactions carried out on the Six Digital Exchange. The Zurich based exchange has, however, not made it clear whether the stable coin will be used privately for the SDX investors or publicly.
The exchange had announced that the Six Digital Exchange would kick off its operations in mid-2019, and true to their word the SDX will begin to tokenize the shares of regular bonds and stocks. The Six Digital Exchange will also offer trades on digital representations of real-world assets such as fine art. Besides the stable coin, the exchange is also working on a security token offering to help the exchange raise funds for use in other development initiatives.