At the start of September, the Boerse Stuttgart Group unveiled Seturion, the blockchain-based settlement platform designed to support the settlement of pan-European tokenized assets transactions. Yesterday it announced Societere Generale FORGE as its first external partner, with the French company executing a test transaction using its EURCV stablecoin.
Seturion is already in use by sister company BX Digital in Switzerland, but for production activity in the EU, it is awaiting a license from the German regulator BaFin. It has applied for a DLT Trading and Settlement System (DLT TSS) license under the EU’s DLT Pilot Regime.
Key advantages of Seturion include that it enables settlement in minutes, and potentially 24/7 in the future, as well as cost savings. Seturion has previously claimed the savings could be up to 90%. Additionally, SocGen FORGE cited the open architecture as a key benefit, given this supports connectivity with traditional and digital platforms throughout Europe. A key goal is to move away from primarily national settlement infrastructures. The partnership represents a significant step toward this European integration goal.
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