SIX Digital Exchange’s CEO quits just after 8 months over strategic conflict

SIX Digital Exchange (SDX), an upcoming cryptocurrency trading platform from Switzerland’s top stock exchange SIX, is losing its CEO just after eight months into the role.

Martin Halblaub, who was heading the SDX, is leaving on Aug. 30, SwissInfo.ch reported Wednesday, citing an internal memo from the exchange.

Halblaub said that while he supports SDX’s ambition and business model, he has decided with a “heavy heart” to leave, given “differing ideas on strategy.” Halblaub reportedly wanted SDX to be launched as an independent company, while the SIX’s board wanted it to operate under the SIX Group.

Tomas Kindler, currently head of business management functions and deputy to Thomas Zeeb, department head of securities & exchanges at SIX, will be replacing Halblaub as interim CEO on Sept. 1.

SIX is looking for a new head at SDX, though Kindler is also a “strong candidate” for the role, per the memo.  The SDX was initially scheduled to launch in mid-2019, but is now expected to go live in the first or second quarter of 2020, per the report.

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Yogita is a senior reporter at The Block and covers all things crypto. Before joining The Block, Yogita worked for CoinDesk and The Economic Times. She can be reached at [email protected] Follow her on Twitter @Yogita_Khatri5.