Regulation · Permission · Switzerland · Licence or charter · Swiss Financial Market Supervisory Authority
FINMA licence for BX Digital AG as a DLT trading facilityNew
The first licence for a DLT trading facility, the infrastructure type created by the DLT Act. BX Digital AG, part of Boerse Stuttgart Group, may run multilateral trading of DLT securities for supervised participants (usually banks) as a small DLT trading facility under relaxed thresholds. Settlement runs on public Ethereum, with the cash leg through the SNB's SIC system and delivery versus payment by smart contract; BX Digital does not hold DLT securities in custody.
In force · effective 18 Mar 2025 · part of Swiss DLT Act (Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology)
Key points
- Licensed under the Financial Market Infrastructure Act provisions added by the DLT Act, permitting multilateral trading of DLT securities.[1]
- Licensed as a small DLT trading facility, so it must stay under thresholds set in the FinMIO in exchange for some regulatory relief.[1]
- Settlement uses Ethereum with payment through SIC; FINMA required business continuity planning and technical checks of the smart contracts.[1]
Timeline
- 18 Mar 2025 · In forceFINMA grants the licence.[1]
Held by
Deployments operating under it
| Deployment | Status | Assets | Use cases | Last reviewed |
|---|---|---|---|---|
| SeturionX (formerly BX Digital) DLT trading facilityNew Seturion | Announced | Reviewed 21d ago |
Sources
- [1]FINMA licenses first DLT trading facility — FINMA, 18 Mar 2025. Accessed 18 Oct 2026.A