Boerse Stuttgart is launching Seturion, a comprehensive blockchain-based platform designed for the settlement of tokenized assets across Europe and beyond.
This innovative solution is accessible to a variety of financial entities, including banks, brokers, trading venues, and tokenization platforms. According to Boerse Stuttgart, Seturion enhances the transaction settlement process for all asset classes, making it considerably faster and more cost-effective. Its modular architecture accommodates tokenized assets on both public and private blockchains, as well as facilitating cash settlements in central bank money.
Seturion has undergone successful trials as part of the European Central Bank’s blockchain initiatives, in collaboration with prominent European banks. It is currently operational at BX Digital, the DLT trading facility regulated by Finma in Switzerland.
Boerse Stuttgart emphasizes that all trading venues throughout Europe can integrate with this settlement facility, enabling market participants to access it via their established connections.
Matthias Voelkel, CEO of Boerse Stuttgart, stated, “We aim to dismantle the existing national settlement infrastructure silos and realize a unified European capital market. Seturion is crafted as an industry solution, welcoming all market participants. We are eager to develop and expand Seturion collaboratively.”
The leadership of Seturion will include Dr. Lidia Kurt, with Sven Wilke as deputy, Dirk Kruwinnus as Chief Product Officer, and Samuel Bisig as CTO. The business will be chaired by Lucas Bruggeman, CEO of BX Swiss Exchange. Boerse Stuttgart Group has also submitted a license application to BaFin under the DLT Pilot Regime.
Dr. Kurt remarked, “Seturion provides market participants across Europe with new opportunities in tokenized assets. Our partners can experience substantial cost reductions in settlement of up to 90 percent. We have spent years building a unique infrastructure, and with Seturion, we are positioned to expand our capabilities throughout Europe.”