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EDSX secures approval for Swiss security token exchange

Switzerland1Switzerland-based European Digital Assets Exchange (EDSX) is set to open what it claims is the first security token exchange in its home market.

The firm, which was founded back in 2019, has secured the necessary regulatory approval to operate a secondary market for tokenised assets and plans to launch the exchange in Q3 this year.

According to EDSX, the compliance process took almost 30 months but it now has created a working demo on its platform.

EDSX is already operating a primary market but it is the secondary market that is expected to help the tokenisation market take off. Today there are currently a lot of providers offering tokenisation services, such as issuance, but there is a lack of venues on which to list and trade the tokens.

EDSX stated that its decentralised exchange will allow peer-to-peer trading but use blockchain technology to limit the counterparty risk.

“In the last few months, we have seen an increased interest from traditional financial players for asset tokenization,” said Mauro Andriotto, EDSX chief executive.

“We have built EDSX because we believe that the blockchain technology will have a disruptive impact on the capital market infrastructures and we want to be part of this change.”

©2022 fundsTech

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