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Ethereum Tokens Will Soon Be Traded on the Swiss Stock Exchange
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A major securities exchange will soon be listing public tokens on the Ethereum network. Switzerland’s national stock market will be trading the tokens with the help of BlockState.
We will soon see Ethereum tokens traded on the Swiss stock exchange. Swiss security token firm BlockState will move around half a dozen ERC-20 tokens from Ethereum to Corda, a private blockchain developed by R3.
By year’s end, the tokens will be mirrored on Corda. Ownership will then be traded on the Swiss Digital Exchange, part of SIX which is Switzerland’s national stock exchange. It is the 13th largest stock exchange in the world.
According to David Nicol, R3’s Head of Digital Assets:
“BlockState has seen that exchanges and market infrastructure providers are building new digital infrastructure on Corda so they are jumping in. The way they are going to do that is with SDX, by issuing tokens that were on ethereum onto Corda.”
BlockState CEO Paul Claudius echoed similar sentiments. This is bringing together “two investor ecosystems” he said.
SIX declined to comment but the exchange has previously expressed optimism about security tokens. In fact, many traditional financial instruments were expected to be tokenized as security tokens and traded on the exchange sometime this year.
The news will likely open up the door to other stock exchanges becoming more open to listing security tokens. Overall, it’s another step forward for the industry, especially in Switzerland where the sector is booming.
Do you believe that other stock exchanges could someday also begin trading security tokens? Let us know your thoughts in the comments below.
Image courtesy of Reuters.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
