Stuttgart Exchange Unveils First Cross-European Blockchain Settlement System
The Boerse Stuttgart Group, the sixth-largest exchange group in Europe, is making significant strides in the crypto space. In a notable development, the Group has secured a crypto-asset service provider license under the European Union's Markets in Crypto-Assets (MiCA) regulations, as announced in January this year.
Building on this milestone, the Group is set to integrate the Seturion platform, a new, innovative solution, into its European trading venues. The Boerse Stuttgart Group acted as pilot customers for Seturion in 2024, with other European banks and partners expected to follow suit. However, specific bank names have not been disclosed in the available information.
The upgrade to the EU's DLT Pilot Regime is also underway, reflecting the European regulator's belief that the EU must keep pace with the global tokenization trend. Brussels has identified tokenization as a policy priority, with the European Commission expected to present proposals under its Savings and Investment Union (SIU) plan later this year. These proposals aim to bring equities, bonds, and derivatives onto blockchain rails.
The Seturion platform is not a stranger to the crypto world. It is currently being used by BX Digital, a FINMA-regulated DLT trading facility. The Boerse Stuttgart Group has also partnered with DekaBank to enable cryptocurrency trading services for institutional investors. Trading venues under the Boerse Stuttgart umbrella will be the first integrated clients of the platform.
Meanwhile, VanEck's crypto ETF has surpassed $500 million in value, indicating growing investor interest in digital assets. As Europe moves towards greater crypto adoption, the Boerse Stuttgart Group's initiatives are poised to play a crucial role in shaping the future of the crypto landscape in the region.
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