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Swiss Stock Exchange Records $1.2B Crypto Trading Volume

Swiss Stock Exchange Records $1.2B Crypto Trading Volume
  • The Swiss Stock Exchange (SIX) recently passed the 1 billion CHF mark in crypto trading.
  • The exchange recorded 1,753.3 billion CHF in overall trade volume in 2020.
  • SIX is one of the top markets for regulated crypto trading.

The Swiss Stock Exchange (SIX) recently reported that it passed the 1.1 billion CHF (about $1.2 billion) mark in crypto trading. The exchange saw a very good trading year in 2020 even with the COVID-19 outbreak.

CEO Jos Dijsselhof said that “despite working from home and split operation”, they were able to handle “record-high” volumes without any issues.

In fact, the exchange saw a whopping 1,753.3 billion CHF in trade in 2020. Of the said figure, crypto trading accounted for $1.2 billion.

SIX is one of the top markets for regulated crypto. This is due to it having 6 exchange-traded product (ETP) providers and offering over 34 ETPs by the end of 2020. Also, SIX has now added ETC Group, a firm that deals with creating new digital asset-backed securities.

BTCE is one such security: it offers investors access to Bitcoin by tracking the crypto asset’s price. Thus, SIX now offers over 100 crypto product options, so said Market Manager Christian Reuss.

Dijsselfhof also said,

We ensured that all market participants could rely on the orderly functioning of our exchange. This proves that our efforts in recent years to continuously improve and invest in our systems and workflows are paying off.

This means that with the recent price shifts and renewed global interest in Bitcoin, SIX is more than ready to handle a surge in users.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.