The Swiss Financial Market Supervisory Authority (FINMA) reportedly disclosed details of their regulatory green light for Swiss exchange SIX, to release a DLT-based crypto marketplace and central securities depository. 

Specifically, the Six exchange – which was supposed to be available in the second half of 2019 according to the initial plan – reportedly encountered numerous obstacles, regulations-wise, preventing an official rollout. 

Regardless of the absence of an official release date in the announcement, it is expected that when the regulatory issue has been resolved by the freshly acquired approval, customers will have the freedom to experience what the exchange has to offer in the foreseeable future. 

In February 2021, 21 Shares reportedly rolled out the first Polkadot exchange-traded product (ETP) across the SIX exchange across the globe, following the acknowledgment for the increasing demand for the asset throughout the area. 

Generally perceived as the crypto valley, Switzerland is broadly considered to be among the most crypto-friendly jurisdictions in the world. The country consciously refused to make changes to its taxation legislation in June, revealing its belief that the existing infrastructure will be sufficient to facilitate blockchain development, as well as DTL technologies.

Together with the United Arab Emirates and Bermuda, Switzerland has reportedly turned itself into one of the most rapidly emerging environments hosting safe-haven funds throughout the globe. 

“The digitization of financial markets continues apace, and while the final shape of the market is still evolving, this is an important milestone in providing institutional investors with a safe and robust infrastructure.” SIX’s global head of exchanges, Thomas Zeeb, reportedly remarked regarding his perspective of the development.