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Boerse Stuttgart Group has effectively tested blockchain technology to decrease the securities settlement period from two days to mere minutes.
Boerse Stuttgart Group, recognized as the second largest stock exchange in Germany and one of the most significant in Europe, has successfully conducted tests on the settlement of tokenized securities transactions in collaboration with the European Central Bank (ECB).
This initiative was focused on investigating the digital transformation of the European capital market. During the tests, the time required for transaction settlement was shortened from two days to just a few minutes. Blockchain solutions facilitated the automatic and direct processing of transactions between counterparties, thereby removing intermediary risks.
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The trials involved five categories of tokenized assets, which included bonds, exchange-traded funds, and equities. The diverse range of scenarios examined highlighted the capability of blockchain to ensure stable and secure settlements in both regular and emergency situations. The tests were conducted in partnership with six prominent German banks, specifically:
- Commerzbank;
- Deutsche Bank;
- DZ BANK;
- Landesbank Baden-Württemberg (LBBW);
- Bankhaus Metzler;
- V-Bank.
Matthias Voelkel, CEO of Boerse Stuttgart Group, stated that blockchain is transforming the capital market landscape in Europe, and the organization plans to further implement DLT systems. Notably, an exchange for tokenized assets is set to be launched in Switzerland this year, utilizing blockchain for settlement purposes.
Recent blockchain advancements by Boerse Stuttgart were leveraged by DZ BANK to introduce crypto trading and custody services, which are now available to over 700 German banks.
Сообщение Stuttgart Stock Exchange Uses Blockchain to Hasten Securities Settlement появились сначала на CoinsPaid Media.
