BX Digital Secures Switzerland’s First DLT Trading System Licence from FINMA
In a landmark move for Switzerland’s blockchain landscape, the Swiss Financial Market Supervisory Authority (FINMA) has granted Börse Stuttgart subsidiary BX Digital the country’s first licence for a Distributed Ledger Technology (DLT) trading system under the DLT Act, in effect since 2021.
The DLT Act defines a DLT trading system as a platform enabling the secure and transparent exchange of digital assets such as cryptocurrencies and tokenised securities using blockchain technology. BX Digital’s newly granted licence allows it to operate such a system for Swiss clients, subject to meeting regulatory conditions. Digital anticipates launching the platform within six months.
Streamlined Trading with Public Blockchain Settlement
A core feature of BX Digital’s offering is the direct settlement of transactions in Swiss francs and the transfer of tokenised assets via a public blockchain eliminating the need for intermediaries like central custodians. This approach enhances efficiency, reduces costs, and simplifies the trading of tokenised stocks, bonds, and funds between institutional players, such as banks and securities firms.
The platform ensures secure and compliant transactions through verified Delivery versus Payment (DvP) mechanisms. Its integration with the Swiss National Bank’s payment system allows for seamless connection to existing banking infrastructure.
“We are convinced of the advantages of blockchain technology for the European capital market. As pioneers, we aim to shape the digital European market infrastructure for tokenized assets and thus lay the foundation for the completion of the Capital Markets Union. BX Digital is the beginning, and our digital European issuance and settlement platform will follow soon.” – Dr. Matthias Voelkel, CEO of the Börse Stuttgart Group, parent company of BX Digital
A Milestone for Swiss Financial Innovation
With this approval, Switzerland reinforces its position as a global leader in integrating blockchain into financial markets. BX Digital supports market liquidity by providing regulatory clarity, establishing strict quality standards, and ensuring the participation of market makers. Developed in close collaboration with its sister company BX Swiss, the platform marks a significant step toward the modernisation of digital asset trading in Switzerland.