The first services are set to be rolled out in mid-2019. “This will help to drive mainstream recognition and interest, making trading with cryptocurrencies much more secure,” says Gianluca Giancola, Co-founder and Head of UX & Design at qiibee.“This development highlights the conviction of Swiss leaders that cryptocurrencies are here to stay, and I believe that this will further boost Switzerland’s position as a crypto nation.”
Digital currency systems make transactions more cost and time efficient, especially with regards to cross-border activities, and has the potential to attract outside investors and revolutionise the existing capital market infrastructure, he adds. The digitisation of existing financial processes will also help optimise these processes. “I believe that crypto has the ability to improve every point of contact in the chain and will continue to disrupt the current global monetary system.”
For Shane Brett, Co-founder and CEO of GECKO Governance, the move displays the growing level of confidence which entities such as the Swiss stock exchange and FINMA are placing in the growing blockchain sector, and the increasing understanding of how regulation, transparency and trust influence perception and uptake of the technology.
“The launch of a fully regulated crypto exchange further highlights Switzerland’s forward-thinking approach to digital assets and cryptocurrencies,” he comments. “Such dynamism and willingness by institutional actors to engage with this emerging economy will hugely benefit the global blockchain ecosystem, particularly once other nations take similar actions.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.