BX Digital, the Swiss subsidiary of Boerse Stuttgart Group and sister company to BX Swiss Exchange, has announced its initial five trading participants for its regulated DLT trading facility for digital assets as the platform prepares to go live in the coming months. The milestone demonstrates growing institutional confidence in Switzerland’s emerging tokenized finance ecosystem.
Three Swiss banks – Sygnum Bank, Incore Bank and Hypothekarbank Lenzburg – alongside securities firms ISP Group and EUWAX AG, are currently in the onboarding process to become founding trading participants. All partners bring extensive experience in digital asset operations and represent a strong commitment to advancing Switzerland’s position as a leading digital finance hub.
“Together we are opening a new chapter in the digital capital market. This marks a key milestone on the path to launching our trading venue. With these first participants, we are creating the basis for a liquid and trustworthy ecosystem that will have a lasting impact on the digital financial centre,” said Lidia Kurt, CEO of BX Digital.
Pioneering approach to digital asset infrastructure
BX Digital’s platform differs significantly from the SIX Digital Exchange (SDX), which went live in late 2021. While SDX operates on a permissioned blockchain and settles primarily with wholesale CBDC, BX Digital utilizes permissionless blockchain technology (initially Ethereum) and will link directly to the Swiss National Bank’s SIC payment system for settlement.
The regulatory framework also sets BX Digital apart. Unlike SDX, which operates under conventional licenses as both a stock exchange and Central Securities Depository (CSD), BX Digital is regulated specifically as a DLT trading venue under Switzerland’s progressive 2021 legislation. This allows BX Digital to bypass CSD requirements, enabling direct settlement of tokenized securities without traditional intermediaries.
The platform will enable trading of tokenized assets including shares, bonds and funds on a public blockchain, with verified delivery versus payment (DvP) settlements in Swiss francs. The partners’ early participation signals strong a institutional appetite for regulated digital asset trading infrastructure.
