The Swiss stock exchange is exploring the creation of a venue in Europe for trading cryptocurrencies, in a bid to muscle in on a market dominated by long-standing digital assets firms such as Binance, OKX and Coinbase. The group is considering using its reputation and Switzerland’s advanced crypto laws as a hook for large traditional investors who are growing interested in trading digital assets. “Crypto has become more and more a recognised asset class,” Bjørn Sibbern, global head of exchanges at SIX Group, told the Financial Times , adding that the company is examining creating “a platform where we can help facilitate trading, whether it’s [spot] crypto or whether it’s derivatives.
” Traditional finance firms have so far mostly shied away from setting up crypto trading venues owing to a lack of clear regulation and fears over reputational damage. + The biggest news from Switzerland, straight to your inbox A few big firms such as Deutsche Boerse, Nomura and Standard Chartered have set up their own crypto exchanges, typically separate from their main businesses. But CBOE Global Markets shut its spot crypto venue this year, blaming a lack of clear regulation.
CME Group explored launching bitcoin trading in May, the FT reported, although its chief executive has since said the exchange has no current plans. The approval of spot bitcoin and ethereum exchange traded funds by the US Securities and Exchange Commission earlier this year spurred a rush of retail and inst.