Switzerland: Largest Stock Exchange's Head Unsure of Crypto Trading, Bullish on ICOs & "Token Ecosystem"

The CEO of Switzerland's largest stock exchange, Thomas Zeeb, speaks on the bourse's latest strategic decision.

Last week, SIX Trading made waves after announcing intent to offer cryptocurrency trading to institutional investors.

While the news sparked a bounce in the prices of several digital currencies, Zeeb is back with new statements on the topic.

As reported by Business Insider on August 17, SIX is unlikely to launch crypto trading anytime soon, stated Zeeb.

While acknowledging the presence of several bitcoin OTC dealers and institutional trading desks, the bourse's CEO believes regulatory scrutiny towards the sector make it a risky venture, adding that cryptocurrencies are "Not a priority" for the time being.

Zeeb spoke with significant optimism for the broader digital asset space, including blockchain technology, crypto-trading, and the market's most risky asset class - Initial Coin Offerings.

Zeeb believes ICOs are "Here to stay," and pegs mass adoption after another five years.

He spoke of SIX's upcoming digital asset exchange, one that aims at making cryptocurrency trading relevant for institutional investors and wealthy retail traders.

The effort is primed to introduce a regulation-compliant way of trading digital assets, with Zeeb adding the support may extend to even ICOs.

In July 2018, SIX revealed official plans to introduce a "Fully-regulated" cryptocurrency exchange to support the burgeoning digital asset ecosystem.