Stuttgart Stock Exchange Group Introduces Blockchain Infrastructure
The Boerse Stuttgart Group, a leading German stock exchange, has announced the development of a new digital capital market infrastructure called Seturion. This blockchain-based platform is designed to speed up and make more cost-effective the handling of transactions in all asset classes, potentially benefiting the Group's partners.
Seturion is spearheaded by Lidia Kurt as CEO, who brings a wealth of experience in the field of tokenized assets. She will be joined by Sven Wilke as deputy CEO and CGO, Dirk Kruwinnus as CPO, and Samuel Bisig as CTO in the management team.
The Boerse Stuttgart Group believes that Seturion could offer market participants new business opportunities around tokenized assets. In fact, they estimate potential cost savings of up to 90 percent in handling transactions with Seturion.
Seturion supports tokenized assets on public and private blockchains and also handles transactions against central bank money and on-chain money. This versatility makes it suitable for a wide range of asset classes.
The Group's various classical and digital trading venues will connect as pilot customers to Seturion. Existing connections of banks and brokers to trading venues can be used with Seturion, making the transition smoother for these entities.
Lucas Bruggeman, Chief Digital Assets Officer of the Boerse Stuttgart Group, will serve as the chairman of the advisory board of Seturion. The team consists of experienced experts in tokenized assets, bringing their collective knowledge to the management of Seturion.
The goal of Seturion is to implement a uniform European capital market. To achieve this, it has an open architecture to overcome national silos in handling infrastructure.
A license application has been submitted to BaFin within the framework of the DLT Pilot Regime by the Boerse Stuttgart Group. The management team of Seturion, subject to approval from supervisory authorities, will be led by Lidia Kurt as CEO.
Trading venues, including banks and brokers, can offer tokenized assets without their own DLT license using Seturion. This could potentially open up new opportunities for these entities in the digital asset market.
Seturion's potential to revolutionise the handling of transactions and offer new business opportunities around tokenized assets is an exciting development in the digital capital market landscape. As it moves through the regulatory approval process, the Boerse Stuttgart Group looks forward to bringing this innovative platform to market.
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