Boerse Stuttgart Group Launches Blockchain-Based Settlement Platform
Boerse Stuttgart Group, which stands as Europe’s sixth-largest exchange operator, has initiated a blockchain-based settlement platform aimed at facilitating cross-border transactions of tokenized assets throughout the region.
In a Thursday announcement, the platform is designed for banks, brokers, trading venues, and tokenization platforms. It accommodates both public and private blockchains, with settlement options available in central bank money or on-chain cash.
The new platform, known as Seturion, has already undergone testing by local banks as part of blockchain trials conducted in collaboration with the European Central Bank (ECB).
The group noted that its own exchanges will be the first to connect, with the solution already operational at BX Digital, Boerse Stuttgart’s regulated DLT trading venue in Switzerland. Other market players will require supervisory approval to participate.
Throughout Europe, banks, fund managers, and fintech startups are intensifying their experiments with tokenization, which involves the issuance of traditional financial instruments such as bonds, equities, and real estate products on blockchains.
This initiative is taking place under the EU’s DLT Pilot Regime, a framework that came into effect in March 2023, allowing regulated entities to test blockchain infrastructure in capital markets.
Recent Developments in Tokenization Across Europe
In Switzerland, Taurus, a startup supported by Deutsche Bank, introduced a Solana-based custody and issuance platform in February. This platform enables banks to manage tokenized equity, debt, structured products, and funds.
Robinhood launched a tokenization-focused layer-2 on Arbitrum for its European users in June, facilitating nearly continuous trading of US stock and ETF tokens.
On Tuesday, Switzerland’s Backed Finance broadened its xStocks platform to Ethereum, incorporating tokenized versions of around 60 US equities, including Nvidia, Tesla, Amazon, and Meta.
A Global Perspective on Tokenization
While tokenization is gaining momentum in Europe, it mirrors a wider global trend.
In the United States, BlackRock’s BUIDL tokenized money market fund debuted in March 2024 in partnership with Securitize and subsequently expanded to the Solana blockchain. The fund distributes monthly dividends accrued daily to its investors via the Securitize platform.
Additionally, New York-based SkyBridge Capital recently announced plans to tokenize $300 million in assets on Avalanche, significantly increasing the network’s real-world asset base.
