BX Digital to introduce blockchain-based asset trading with direct settlement in Switzerland
Switzerland’s financial regulator, FINMA, has granted a licence to BX Digital, a subsidiary of the Stuttgart Stock Exchange, to launch a blockchain-based trading system. The announcement was made on Tuesday.
The new platform will facilitate direct asset transfers and settlements on the Ethereum blockchain, eliminating the need for intermediaries such as central securities depositories. This innovation aims to reduce transaction costs and processing times while enabling the trading of tokenised assets, including shares, bonds, and funds, between banks and securities firms.
Lidia Kurt, CEO of BX Digital, highlighted the company’s ambition to establish itself as Switzerland’s leading financial infrastructure for digital asset trading and decentralised settlements.
A key feature of the system is its direct connection to the Swiss National Bank’s payment network, allowing seamless integration with existing banking frameworks. Operations are expected to commence within six months.
Boerse Stuttgart Group CEO Matthias Voelkel emphasised the broader implications of the initiative, stating that blockchain technology could help shape a more integrated European capital market. “BX Digital is just the beginning; our digital issuance and settlement platform for Europe will follow soon,” he said.
