The Seturion platform, part of Boerse Stuttgart Group, has begun creating a blockchain-based securities settlement system across Europe in partnership with Societe Generale, SG-Forge, and the broker flatexDEGIRO. As part of this project, Societe Generale will issue tokenized structured securities, including turbo warrants and investment certificates, on the Seturion platform. This is reported by Cointelegraph.com reports.
SG-Forge, which has received a MiCA license from French regulators, will execute transactions using its EURCV and USDCV stablecoins. Meanwhile, the online broker flatexDEGIRO, which has 3.5 million clients across 16 countries, will also direct retail investor flow to this new platform. Currently, Seturion has applied to Germany's BaFin regulator for a license under the DLT Pilot Regime.
Nasdaq's European trading venues will also connect to the Seturion system to facilitate the trading of tokenized assets. The main goal of this partnership is to eliminate fragmentation in the European financial market and significantly reduce transaction costs. Boerse Stuttgart CEO Matthias Voelkel noted that Seturion serves as an open industry solution for a unified European capital market.
The Seturion platform supports both public and private blockchain networks and enables settlements via central bank money or on-chain cash. It is currently operating successfully on the BX Digital platform, regulated by Switzerland's FINMA. Such initiatives indicate an intensifying race among European financial institutions to build regulated blockchain infrastructure.
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