Nasdaq said it is working with Boerse Stuttgart Group’s Seturion tokenized settlement platform to connect its European trading venues to infrastructure designed to settle tokenized securities using distributed ledger technology.
According to Monday announcementthe collaboration will initially focus on structured products and aims to support faster settlement of tokenized assets on European capital markets.
Seturion supports multiple asset classes across public and private distributed ledger networks and allows transactions to be settled using central bank money or on-chain cash. Boerse Stuttgart said the platform is intended to be open to a wider network of financial institutions across Europe.
As part of the partnership, Nasdaq will connect its European trading venues to Seturion to enable settlement of tokenized securities traded on these markets via the platform. The companies said they plan to expand participation to additional issuers, brokers and financial institutions over time.
The partnership aims to address the fragmentation of Europe’s post-trade infrastructure, where securities settlement is handled by multiple national systems with different rules and processes. The companies say the common platform could facilitate reduce settlement times and operational complexity in European markets by using distributed ledger technology.
European Central Bank in April he said there was an “urgent need to integrate fragmented European capital markets, not only in the area of post-trade services, but also in supervision and other areas.”
The system is designed to operate within existing European regulatory frameworks, including MiFID II and the DLT pilot, which enable financial institutions to test distributed ledger technology in the trading and settlement of tokenized securities.
In February, Boerse Stuttgart Group said it would merge its cryptocurrency business with Frankfurt-based digital asset trading firm Tradias as part of a strategy to expand its presence in institutional cryptocurrency markets.
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Traditional exchanges are digging deeper into tokenized securities
Exchange operators are increasingly exploring tokenized versions of established securities as part of a modernization of capital market infrastructure.
Nasdaq said today that it is working with Kraken, a U.S.-based cryptocurrency exchange and tokenization infrastructure provider Backed, to develop a gateway aimed at supporting tokenized stocks while maintaining issuer control.
In September, Depository Trust & Clearing Corporation said it plans to introduce a subset of U.S. Treasury securities to the Canton Network, with a long-term goal of expanding tokenization to a broader range of assets eligible for custody at its Depository Trust Company subsidiary. In 2024, the market infrastructure operator processed approximately $3.7 trillion.
In January, the New York Stock Exchange and its parent company Intercontinental Exchange said they were developing a platform for trading tokenized stocks and exchange-traded funds that would support 24/7 trading and blockchain-based settlement.
Last week, Intercontinental Exchange announced that it had taken a seat on OKX’s board of directors after investing in the cryptocurrency exchange and plans to offer OKX users tokenized NYSE-listed stocks and derivatives starting in 2026.
According to them, the total value of tokenized public shares on the network has increased to approximately $1.01 billion data from RWA.xyz.
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