Boerse Stuttgart Group has signed Societe Generale, its digital-asset unit SG-FORGE, and broker flatexDEGIRO to Seturion, the exchange operator’s pan-European blockchain settlement platform for tokenized securities. The move expands a network Boerse Stuttgart wants to position as post-trade infrastructure for a more integrated European capital market.
Each participant brings a separate function
Under the agreement announced Tuesday, Seturion will clear trades between the parties. flatexDEGIRO will route European retail order flow in tokenized securities through the platform. Societe Generale plans to issue tokenized versions of its own products on Seturion, while SG-FORGE will supply the euro and dollar stablecoins used for the cash leg of settlement. That gives the platform both the asset issuance side and an on-chain payment rail for settlement.
Built for banks, brokers, and trading venues
Boerse Stuttgart, ranked as Europe’s sixth-largest exchange group, operates markets in Germany, Sweden, and Switzerland. The group said Seturion was designed so banks, brokers, and venues can join without first obtaining their own distributed-ledger license. The platform supports all asset classes across public and private blockchains, and can settle cash in central bank money or on-chain money, including MiCA-compliant stablecoins.
High-volume instruments are the first priority, with tokenized structured securities leading the rollout. Nasdaq is also connecting its European venues to Seturion alongside Boerse Stuttgart’s own markets, widening the set of venues whose tokenized trades can clear through the system. BX Digital, wholly owned by the group, already runs on the same infrastructure; it is the first DLT trading facility in Switzerland to receive a FINMA license.
SG-FORGE stablecoins handle settlement cash
The cash side of trades will move through CoinVertible, the euro and dollar tokens issued by SG-FORGE. The report describes SG-FORGE as the first MiCA-compliant stablecoin issuer backed by a major European bank. Societe Generale, a major player in Europe’s structured-securities market, plans to bring tokenized versions of products such as turbo warrants and investment certificates to Seturion for listing and trading on linked venues.
flatexDEGIRO, which has more than 3.5 million clients across 16 countries, adds the retail distribution side. Its existing structured-securities relationship with Societe Generale means demand from that channel can be directed into the new tokenized product line.
Expansion follows earlier Seturion milestones
Boerse Stuttgart first launched Seturion in September 2025, saying at the time that the platform could remove as much as 90% of cross-border settlement costs. In March 2026, Nasdaq committed its European venues to the platform, starting with structured products. Societe Generale’s stablecoin infrastructure had also been used earlier this year: the report says tokenized bonds were settled through SWIFT in January using EUR CoinVertible.
The partnership comes as European banks are building competing euro stablecoin and tokenization networks. The Qivalis consortium expanded to 37 banks in 15 countries on May 20, with a MiCA-compliant euro stablecoin planned for the second half of 2026.