Switzerland's planned digital exchange clinched regulatory approval after three years of development and months of delays.
SDX, a blockchain-based trading venue, won a nod from Swiss financial regulator Finma to operate as a stock exchange and central securities depository, it said in a statement on Friday.
SDX had applied for a traditional exchange license, and not a distributed ledger-based one which became available after it had embarked on the regulatory process, Finma noted in a separate statement.
The move comes four weeks before SDX's new CEO – its third in as many years – starts. The digital asset bourse fell behind schedule last year in finding strategic investors, leading to uncertainty about the exact value of the project and hampering the due diligence process.
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