The Boerse Stuttgart Group opened a seturion, a digital settlement platform designed to streamline post-trade processes for tokenized assets throughout Europe.
Blockchain-based infrastructure aims to eliminate cross-border frictions, weave the settlement system of settlement and cut costs by 90%, the Exchange said Thursday.
The platform, which is open to banks, brokers, traditional and digital trading areas, and tokenization platforms, is already used in BX digital, Switzerland’s Finma-Regulated trading facility. It was tested in European Central’s blockchain tests with top European banks in 2024.
“The seturion is the first digital pan-European settlement platform for tokenized assets,” Boerse Stuttgart CEO Matthias Voelkel said on the release. “Through a truly open architecture, we want to overcome the current national film in the infrastructure of the regulating and reality a single European capital market.”
Boerse Stuttgart said the open architecture of the platform allows for the straightforward integration, support of both public and private blockchain, and enabling the settlement of central bank money as well as on-chain cash. It allows institutions to offer trading to tokenized properties without the need for their own DLT license, while continuing to use existing market infrastructure connections.
The company’s own areas of trade will serve as a “client zero,” with more participants who are expected to join as soon as possible.
The awaiting approvement of the administration, the seturion leadership team is chaired by Lidia Kurt as CEO, Sven Wilke as deputy CEO and chief growth officer, Dirk Kruwinnus as Chief Product Officer and Samuel Bisig as Chief Technology Officer. Lucas Bruggeman, the chief official of the Boerse Stuttgart digital assets, was named chairman of the board.
A license application was filed with Germany’s financial regulator Bafin under the The EU’s DLT pilot regime.
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