Three Good Crypto News Reached the Market

Three Good Crypto News Reached the Market 101
Source: iStock/phototechno

The cryptoverse got two positive news and one somewhat positive announcement today from three entities. One, Switzerland’s stock exchange is considering issuing its own tokens in an effort to digitize assets; two, U.S.-based mutual fund giant Fidelity Investments will reportedly start offering Bitcoin trading in the next few weeks; and three, an insider at the US Commodity Futures Trading Commission (CFTC) says the institution might approve Ethereum futures trading, if it ticks all the boxes.

Thomas Zeeb, Head of Securities and Exchanges at Switzerland’s stock exchange SIX, told financial news publication Finews that the company’s upcoming digital exchange will go live with both a native token and an “initial digital offering” (IDO) in 2020. “An IDO needs to fulfill similar standards as an IPO [initial public offering.] You can’t just do an ICO [initial coin offering] whitepaper, hype it up a little bit, and then launch. As an infrastructure, we want to ensure we set the standard and that existing rules around asset safety and investor protection are maintained,” he explained.

By 2021, the exchange, dubbed SIX Digital Exchange (SDX), is expected to start tokenizing existing securities, like equities, fixed income, and funds. “Maybe the token will eventually replace the share one day,” Zeeb adds. However, the exchange will not be trading cryptocurrencies at all, since their inherent flaw is “not knowing who’s behind the trades and where the coins are coming from – by design,” he explains.

Meanwhile, Fidelity is setting up Bitcoin trading for its high-end customers within the coming weeks, Bloomberg reports, citing sources familiar with the matter. The company also released a survey last week, which shows that 47% of the surveyed institutional investors consider Bitcoin and other cryptocurrencies “worth investing in.”

Fidelity spokeswoman Arlene Roberts told Bloomberg that they will will continue to…

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