News, data and analysis on tokenized assets, market design and digital economic systems.
German exchange group behind Seturion, a settlement platform for tokenized securities. On 20 October 2026 BaFin licensed it to run a combined trading and settlement system under the EU's DLT Pilot Regime, and it says it is the first exchange group in Europe to hold one.
Boerse Stuttgart Group is the exchange group that initiated Seturion, a digital settlement platform for tokenized securities that it wants to open to banks, brokers and trading venues across Europe. On 20 October 2026 it said BaFin had granted it a DLT Trading and Settlement System licence under the EU's DLT Pilot Regime, after a licensing process run with ESMA and the ECB, and that it is the first exchange group in Europe to obtain one. Trading venues that connect to Seturion can offer trading in tokenized assets without a DLT licence of their own. Seturion's partners include flatexDEGIRO, Nasdaq, Société Générale and SG-FORGE. Matthias Voelkel is the group's chief executive and Lidia Kurt runs Seturion. Börsen-Zeitung reports that structured products, where the Stuttgart exchange is a leading venue, will come first. In September 2026 the group was one of 27 signatories of an industry letter asking EU lawmakers to remove or raise the pilot regime's volume cap.
Developments in which Boerse Stuttgart Group 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.
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