Boerse Stuttgart Group has brought flatexDEGIRO, Societe Generale and SG-FORGE onto its blockchain-based settlement network, Seturion, in a move aimed at building a unified digital securities market across Europe. Nasdaq’s European trading venues are expected to connect next, enabling trading and settlement of tokenized securities on the same infrastructure.
What Seturion does
Seturion connects banks, brokers and trading venues through a shared digital settlement layer built for tokenized assets.
At launch, the network focuses on structured products such as turbo warrants and investment certificates. Boerse Stuttgart plans to extend coverage to more asset classes over time, across both public and private blockchains.
Roles of the new participants
Societe Generale intends to issue tokenized structured securities directly on Seturion. SG-FORGE, the bank’s digital asset unit, will provide its euro and U.S. dollar CoinVertible stablecoins to settle transactions on-chain.
flatexDEGIRO is integrating its retail brokerage operations from 16 European markets into the network. The platform serves about 3.5 million clients and managed close to €100 billion in assets under custody at the end of 2025, giving Seturion immediate scale on the retail side.
Link to wider European market infrastructure
Earlier this month, Societe Generale expanded its use of the Canton Network for institutional settlements using the same CoinVertible stablecoins, joining as an ecosystem super validator.
The latest integration on Seturion fits into broader efforts to create a cross-border settlement framework for Europe’s capital markets, aligning with initiatives to reduce fragmentation between national systems.
Fully digital workflow and MiCA compliance
The network is designed to support a fully digital lifecycle for securities:
- an issuer such as Societe Generale can create a structured product directly as a digital token on Seturion
- that token can be traded on connected venues, including Nasdaq’s European platforms once linked
- settlement is executed almost instantly on Seturion using SG-FORGE’s CoinVertible stablecoins
CoinVertible stablecoins are structured to comply with the EU’s Markets in Crypto-Assets (MiCA) regulation, offering a regulated, bank-backed digital currency for on-chain settlement.
Implications for market participants
With flatexDEGIRO on board, the initiative extends beyond institutional desks to a broad retail client base, signaling a push to make tokenized securities part of everyday market activity.
The initial impact will be most visible in the post-trade environment for turbo warrants and investment certificates:
- shorter settlement times and reduced operational complexity
- potential lower costs and risks for cross-border transactions
- a live test case for the network’s effect on liquidity and pricing in structured products
How this first phase performs is likely to shape the timing and scope of Seturion’s planned expansion into additional asset classes and broader European market usage.
To explore how traditional finance meets crypto innovation, learn more in our TradFi and blockchain integration guide today.
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