SIX CEO Thomas Zeeb on Digital Assets: The Future is Bright but Not Yet Crypto

The Crypto Conundrum at SIX

In a recent interview with Business Insider, Thomas Zeeb, the CEO of securities services at Switzerland’s renowned stock exchange SIX, laid out his firm’s stance on cryptocurrency trading. Spoiler alert: if you’re looking for a crypto trading feature anytime soon at SIX, you might want to sit tight. According to Zeeb, cryptocurrencies are currently not on the top of their to-do list. He explained, “There’s plenty of other platforms already in the game, providing Bitcoin trading services.”

Why the Hesitation?

Zeeb didn’t hold back in expressing some reservations about Bitcoin, referring to existing ‘reputational’ issues that the cryptocurrency community still grapples with. His words echoed a sentiment lingering in the crypto world: “Bitcoin is about hope and hype.” Ouch! But here’s a little silver lining. Despite this hesitation over crypto trading, Zeeb retains a sense of optimism about digital assets as a whole.

The Future is Digital

Zeeb has made it clear that while direct cryptocurrency trading isn’t currently a priority, digital assets sure are! He believes that ICO tokens and similar vehicles are undoubtedly in it for the long haul, predicting mass adoption in about five years. “We’re looking at digital currencies as something on the horizon, much like derivatives were in the early ’90s,” he said, emphasizing that the uptake of digital assets will be “a lot faster than the 30 years it took for derivatives.”

Bridging the Gap in Market Needs

In a fascinating parallel, Zeeb discussed the upcoming digital assets exchange in development at SIX, aiming to create a regulated framework for trading ICO tokens. This initiative hopes to attract institutional investors who are interested in the burgeoning world of digital assets but wary of existing risks. According to Zeeb, he sees a clear demand from these clients to legitimize digital trading and ensure asset safety.

From Securities to Tokens

In another interesting angle, Zeeb is encouraging the digitization of existing securities. This proposal holds the potential to unlock fractional ownership of assets, making it viable to turn exotic assets — think art collections or rare collectibles — into tokenized investments. The goal? Making investing more accessible while also fostering innovation in traditional markets.

It feels like just yesterday that SIX Group made headlines with its plans to launch a “fully-regulated” cryptocurrency exchange next year, leveraging blockchain technology. With the prospect of a digital asset ecosystem literally in the works, it seems like a thrilling time to keep an eye on SIX, even if they’re not gearing up for crypto trading right away.