The case
BX Digital, a subsidiary of BX Swiss AG and part of the Boerse Stuttgart Group, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate a Distributed Ledger Technology (DLT) trading facility.
Source: FINMA
The commentary
This facility enables the trading of DLT securities, such as tokenized shares, bonds, and funds, among supervised participants like banks and securities firms. The platform utilizes Ethereum-based public blockchain technology for direct settlement and asset transfer, eliminating the need for intermediaries like central securities depositories. It also integrates with the Swiss National Bank’s payment system, Swiss Interbank Clearing (SIC), to facilitate delivery-versus-payment transactions.
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