Seturion, Boerse Stuttgart Group’s pan-European settlement platform for tokenized assets, has announced a strategic partnership with Nasdaq to connect the exchange operator’s European trading venues to the platform. The initial focus is structured products, with the partners aiming to expand the network of issuers, brokers and other institutions over time.
A key aim is to address European settlement fragmentation, with Nasdaq operating several stock exchanges in the Nordics that support structured product trading, particularly Nasdaq Stockholm. In fact the two groups compete in that region, with the Boerse Stuttgart Group owning the Nordic Growth Market which also supports structured products. The category is less likely to include tokenized equity certificates of the kind issued by crypto-native firms, despite the deal announced today between Kraken’s xStocks and Nasdaq.
Structured products may seem an unusual starting point, but Europe has active exchange listed markets for certificates and warrants that many observers overlook. Germany is the largest, with Boerse Stuttgart’s own EUWAX platform and Deutsche Börse’s Frankfurt-based segment together processing substantial retail volumes. Italy’s SeDeX, Switzerland’s SIX, and Nasdaq’s own Nordic venues are also significant.
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