Swiss SIX Stock Exchange Considers Launching Crypto Exchange in Europe
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The Swiss stock exchange operator, SIX Group, is reportedly considering launching a new crypto trading platform in Europe.
SIX Group is considering using its reputation and the country's advanced crypto laws to muscle in on a market dominated by firms such as Binance, OKX and Coinbase. https://t.co/exwdRZLWHi pic.twitter.com/7QtYDyEz5J
According to the Financial Times, the company seeks to compete with established players like Binance, OKX, and Coinbase by leveraging its reputation and Switzerland’s favorable crypto regulatory environment.
Bjørn Sibbern, the global head of exchanges at SIX Group, stated that the company is evaluating the possibility of creating a platform that could support both spot and derivative crypto trading.
Although the specific timeline is unknown, Sibbern emphasized the importance of cryptocurrency, which he argued is becoming widely “recognized asset class,” prompting the company to explore the sector.
The platform, if launched, would be a significant step for SIX Group in the crypto arena, directly challenging the dominance of top-tier exchanges like Binance, Coinbase, and ByBit.
Recent data from blockchain analytics firm CCData shows that trading volumes on centralized exchanges have increased, with spot and derivatives activity growing 5.38% in August alone, reaching $5.22 trillion.
The top exchanges like Binance currently control around 70% of this spot volume, making the entrance of traditional financial institutions a potential disruptor in the market.
SIX Group’s planned venue would capitalize on the
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