Success stories
BX Digital Launched Switzerland’s First Regulated Blockchain-Based Trading & Settlement System

BX Digital Launched Switzerland’s First Regulated Blockchain-Based Trading & Settlement System

DLT-powered infrastructure slashes settlement time from days to minutes

BX Digital, the Swiss subsidiary of Boerse Stuttgart Group, has launched a fully regulated settlement system for digital asset trading — the first of its kind in Switzerland. Built in partnership with GFT, the platform drastically reduces settlement times and eliminates intermediaries, opening a new chapter in digital capital markets and enabling banks to offer faster, cheaper, and more transparent services to clients.

Faster processing

Settlement time has been reduced from 2 days to a few minutes.

FINMA-certified

First DLT trading system with official authorisation in Switzerland.

Eliminates intermediaries

Tokenised assets are settled directly via the Ethereum blockchain.

Client

BX Digital

BX Digital is the first regulated financial market infrastructure in Switzerland with a trading and settlement system for digital assets on the public blockchain.

Challenge

Build a regulated DLT trading and settlement platform — from scratch

BX Digital had a bold ambition: to become the leading Swiss infrastructure for the trading and decentralised settlement of tokenised assets. But turning that vision into reality would be anything but simple.

In 2021, Switzerland’s DLT Act came into force, allowing financial institutions to tokenise assets — such as shares or real estate — and transfer them directly via blockchain. This legislation unlocked new potential for regulated digital asset trading and settlement. However, the requirements to obtain a DLT trading facility license from FINMA, Switzerland’s financial regulator, were exceptionally strict.

BX Digital needed to deliver a robust market infrastructure that:

Settled digital securities in minutes rather than days
Eliminated intermediaries and counterparty risk
Integrated with existing financial systems and Swiss National Bank processes
Met the highest levels of compliance, transparency, and auditability

Crucially, the solution had to bridge two worlds: the innovative, decentralised technology of blockchain and the conservative, tightly regulated environment of capital markets.

BX Digital turned to GFT — a long-standing technology partner with deep DLT expertise — to co-create the system from ideation to launch.

“BX Digital aims to become the leading Swiss financial market infrastructure for trading and decentralised settlement of digital assets.”

Lidia Kurt

CEO

BX Digital

Engagement

Designing and delivering a new market infrastructure — securely and at speed

From the earliest concept stage, GFT worked closely with BX Digital to co-design and build the solution. Within months, GFT delivered a minimum viable product (MVP) hosted on Cloud — built with smart contracts to ensure real-time settlement and maximum efficiency.

Key elements included:

Blockchain settlement on Ethereum – Enabling token transfers without a central securities depository
Swiss franc payments – Integrated with the Swiss National Bank’s SIC payment system
Delivery versus payment (DvP) – Ensuring secure, verified trades with automatic reconciliation

GFT embedded compliance into every step of development, aligning the system with FINMA’s evolving DLT regulatory framework. To ensure security and reliability, each development iteration underwent automated, tool-based auditing and testing.

“BX Digital had the bold vision. GFT delivered. Together, we built a solution that redefines how digital assets are tradet and settled. This is a permanent leap forward for the financial industry, unlocking the true potential of tokenised assets.”

Eduard Grün

Product Manager

GFT Technologies SE

Benefit

A FINMA-approved DLT trading system — transforming Swiss financial markets

After extensive testing and external auditing of the MVP, the system received full regulatory approval from FINMA. BX Digital is now the first licensed multilateral DLT trading system in Switzerland.

Major financial institutions rapidly signed on to offer near-instant settlement to their clients, including:

Sygnum Bank
Incore Bank
Hypothekarbank Lenzburg AG
ISP Group
EUWAX AG (part of Boerse Stuttgart Group)

By reducing settlement time from two days to minutes, BX Digital’s infrastructure offers unmatched speed, transparency, and trust. The platform sets a new benchmark for digital asset trading — not just in Switzerland, but across Europe.

“As the first Swiss financial market infrastructure to receive approval from FINMA for a Distributed Ledger Technology trading facility, this project is a groundbreaking milestone for the Swiss financial market and maintains BX Digital’s position at the forefront of innovation in Europe.”

Samuel Bisig, CTO