News, data and analysis on tokenized assets, market design and digital economic systems.
Germany's federal financial supervisor, the Bundesanstalt für Finanzdienstleistungsaufsicht. On 20 October 2026 it licensed Boerse Stuttgart Group to run a combined trading and settlement system for Seturion under the EU's DLT Pilot Regime.
The Bundesanstalt für Finanzdienstleistungsaufsicht, the Federal Financial Supervisory Authority, is Germany's federal financial supervisor. On this beat it is the licensing authority for German market infrastructure under the EU's DLT Pilot Regime. On 20 October 2026 it granted Boerse Stuttgart Group a DLT Trading and Settlement System licence for the Seturion settlement platform, after a licensing process run together with ESMA and the ECB.
Developments in which Federal Financial Supervisory Authority (BaFin) is a named party, newest first.
Seturion, the exchange group's settlement venture, can now settle tokenized securities under an EU trial regime. Other venues can trade through it without a licence of their own, but the trial's size cap still limits how far it can grow.
The group says it is the first exchange group in Europe to hold a DLT Trading and Settlement System licence under the EU's DLT Pilot Regime, granted after a process run with ESMA and the ECB. Connected venues can trade tokenized assets without their own licence.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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