Boerse Stuttgart, Societe Generale and flatexDEGIRO back Seturion blockchain settlement

A major European financial consortium is building a blockchain-based settlement system for securities, aiming to create a unified infrastructure across the continent. Boerse Stuttgart Group announced on Thursday that its platform, Seturion, has partnered with French banking giant Societe Generale, its crypto subsidiary SGForge, and online broker flatexDEGIRO.

Under the plan, Societe Generale will issue tokenized structured securities, such as turbo warrants and investment certificates, on the Seturion platform. SGForge, which holds a Markets in Crypto-Assets (MiCA) authorization from French regulators, will settle the transactions using its CoinVertible euro and dollar stablecoins, known as EURCV and USDCV. The online broker flatexDEGIRO, which serves approximately 3.5 million customers across 16 countries, will connect its retail investor flow to the system.

The initiative is designed to reduce settlement costs and address the fragmentation of Europe's national settlement systems. Matthias Voelkel, CEO of Boerse Stuttgart Group, stated that with Seturion, they are building the European settlement platform for a unified capital market. He described it as an open industry...