"Tokens could one day replace stocks": SIX manager Thomas Zeeb on asset tokenization
While most public securities exchanges are still hesitant about the tokenization of investments, the Swiss stock exchange SIX creates facts. For example, CriptomonedaseICO reported on the launch of the world's first crypto ETP (Exchange Traded Product); At the beginning of April this year saw the start of a ripple ETP.
But like SIX manager Thomas Zeeb in an interview with the industry magazine finews betrays, the stock market is far from the goal. Behind the scenes, SIX is already planning to set up a comprehensive trading platform for digital assets, the SIX Digital Exchange (SDX).
Pilot in late summer, start 2020
Accordingly, the characters are on test phase. As Zeeb reveals, the stock exchange operator wants to carry out a pilot project with selected partners already in the summer; the first services will be "live in early 2020".
It should also be a separate token used. SIX intends to emit these by means of so-called "Initial Digital Offerings" (IDO). Which asset class – bond, share or warrant – should represent the security token is not yet known.
In the long term, it should not stay with your own security token. The stock market, according to the manager, wants to convert existing securities such as shares into a token form by 2021. This is the future of securities trading.
We want to be able to capitalize on existing securities (stocks, bonds, funds). Maybe someday the token will replace the stock,
says Thomas Zeeb.
Institutional bitcoin trading is currently complicated
The dream returns that investors achieve with Bitcoin investments (bitcoin has gained 55 percent since the beginning of the year) have been attracting more and more institutional investors for quite some time. These, however, were difficult to pick up from European stock exchanges in the current legal situation. Finally, the pseudonymous nature of cryptocurrencies like Bitcoin complicates KYC and AML compliance. To Zeeb:
The fatal mistake when trading cryptocurrencies is not knowing who is behind the trades and where the coins are coming from. We have a responsibility to put in place an appropriate anti-money laundering and transaction monitoring process, as is already commonplace in the traditional world today.
The Bitcoin ecosystem therefore does not yet provide extensive institutionalization.
But this could change in the future:
If the market for today's cryptocurrencies can be legitimized, we can certainly create the necessary connectivity between our respective infrastructures,
so the manager.
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