Bitcoin 800x500 - Swiss Stock Exchange's Exec Says Crypto Is Here to Stay

Swiss Stock Exchange’s Exec Says Crypto Is Here to Stay

In a conversation with Business Insider, Thomas Zeeb, Head of Securities and Exchanges for SIX Group, said firmly that cryptocurrencies are here to stay. He also explained why his company has not released an exchange of their own.

Thomas Zeeb Says Cryptos Are Here to Stay

SIX Group, which owns the Swiss Stock Exchange, will be releasing a full digital asset platform named Swiss Digital Asset Exchange. This platform will be allowing initial public offerings (IPOs) and the crowdfunding space.

He went on to explain that since there are several cryptocurrency exchanges already in existence, there was no need to prioritize the creation of another platform.

At the moment, the clients using the service will be startups that would have opted for funding from venture capital firms and private equity. Institutional investors should feel more comfortable operating with a regulated and recognized mainstream digital asset platform.

However, Thomas Zeeb did not provide positive commentary on Bitcoin (BTC) in general. Indeed, he explained that nothing backs it and that it does not have a good reputation. In its early years, Bitcoin (BTC) was used by criminals in order to process transactions without detection. Now, things have changed and Bitcoin is used by mainstream financial institutions, but the perception has stayed.

In the future, Zeeb believes that Bitcoin, ICOs, and other digital assets will become another investment tool for money managers, particularly as they find new regulations.

Zeeb added that traditional markets also have securities that could be considered problematic and risky for investors:

Whether you’re in a traditional or a digital market, there‘s always been listings and securities you can name US and Canadian penny shares, Australian mining shares… there have always been listings that are highly risky and in some other ways potentially problematic.”

Another important topic he spoke on was related to the tokenization of exchange-traded funds (ETFs) and securities. In this way, it would be possible for organizations to receive support without having to depend in governments.

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