Boerse Stuttgart's Seturion: Tokenized Asset Settlement in Europe
Boerse Stuttgart Launches Seturion for Tokenized Asset Settlement
Boerse Stuttgart Group, a leading European exchange operator, has unveiled Seturion, a blockchain-based settlement platform designed for cross-border transactions of tokenized assets. The platform aims to streamline settlement processes across the region, catering to financial institutions and trading venues.
The announcement highlights that Seturion is geared toward banks, brokers, trading venues, and tokenization platforms. It supports both public and private blockchains, offering settlement options in central bank money or on-chain cash.
Seturion has already undergone testing with local banks through blockchain trials conducted in collaboration with the European Central Bank (ECB).
Initial integration will focus on Boerse Stuttgart's own exchanges, with BX Digital, the group's regulated DLT trading venue in Switzerland, already live on the platform. Broader market participation will be subject to regulatory approval.
Tokenization Gains Momentum in Europe
The launch of Seturion coincides with increasing interest in tokenization across Europe. Banks, fund managers, and fintech startups are actively experimenting with issuing traditional financial instruments like bonds, equities, and real estate on blockchains.
This activity is supported by the EU’s DLT Pilot Regime, implemented in March 2023 to facilitate regulated trials of blockchain infrastructure within capital markets.
Examples of recent developments include:
- Taurus: Deutsche Bank-backed startup launched a Solana-based custody and issuance platform for managing tokenized assets.
- Robinhood: Rolled out a tokenization-focused layer-2 on Arbitrum for its European customers.
- Backed Finance: Expanded its xStocks platform to Ethereum, offering tokenized versions of approximately 60 US equities.
Tokenization is also gaining traction globally. In the United States, BlackRock’s BUIDL tokenized money market fund has expanded to the Solana blockchain, while SkyBridge Capital plans to tokenize $300 million in assets on Avalanche.