SCX was founded to provide secure, high-quality and transparent access to blockchain-based products out of Switzerland. SCX provides a "trusted gateway" from traditional currency (FIAT) to crypto and allows two contract holders to come together in a secure environment. It offers the trading of Bitcoin, Ether and selected payment and utility tokens such as Proxeus’ utility token named XES. Asset tokens cannot be traded at SCX. The platorm is operated by the start-up Blockworks, that currently employs a team of 22 staff in Zurich and Europe.
SCX is subject to regulatory audits of self-regulation bodies against money laundering (know your customer) and quality assurance bodies (SRO VQF). This also means that access to the platform by market participants is strictly regulated via "onboarding processes". This ensures that only "clean wallets" are created and that the "registered wallets" of market participants form a trusted and reliable basis. The certified transfer between traditional money and crypto is exclusively enabled by SCX-partner banks. The data centres are physically based in Central Switzerland.
Christian Katz, Chairman of the Board of Directors of SCX says: "Blockchain-based transactions, Smart Contracts and many other innovations in the crypto segment are set to experience strong growth in the coming years. Blockchain transactions are sometimes still rightfully criticised for their lack of transparency. To transfer them to a normalised market we need a clean and transparent as well as a regulated basis in order to further create trust. SCX regards itself as the catalyst for this transfer. As an SRO/VQF-regulated platform and settlement tool for global transactions, SCX is looking to improve the value chain for all market participants, especially in Switzerland."