Seturion has launched a strategic partnership with flatexDEGIRO and Societe Generale’s blockchain-based infrastructure to modernize securities settlement in Europe.
Key Takeaways:
Boerse Stuttgart’s Seturion platform partnered with 3 major financial firms to build European blockchain rails.The unified framework will slash transaction costs for flatexDEGIRO’s 3.5 million retail brokerage clients.Tokenized structured securities will be the 1st asset class to roll out on the new on-chain settlement network.Under the partnership, Societe Generale will issue tokenized structured products, such as turbo warrants and investment certificates, through Seturion. Those digital assets will be traded on European trading venues, including Boerse Stuttgart’s own markets and Nasdaq’s European trading venues.
“With Seturion, we are building the European settlement platform for the unified European capital market that is emerging as a result of the Capital Markets Union,” said Matthias Voelkel, CEO of Boerse Stuttgart Group. “As an open industry solution, Seturion contributes to overcoming Europe’s fragmented settlement landscape.”
Industry Shift Toward Digital InfrastructureWhile the platform is built to handle all asset classes, tokenized structured securities will be the first to roll out due to their high transaction volumes.
“Faster and more cost-efficient settlement on tokenized rails is especially relevant for securities with high numbers of transactions and issued products,” said Lidia Kurt, CEO of Seturion.
Online brokerages are backing the shift toward digital ledgers to meet rising consumer demands for speed. Oliver Behrens, CEO of flatexDEGIRO, noted that execution quality and settlement efficiency are crucial in modern online brokerage, calling tokenization an area of “enormous potential.”
