Nasdaq partners with Bourse Stuttgart Group to launch tokenized securities in Europe

Nasdaq will connect European markets with Seturion, a pan-European blockchain-based settlement platform operated by the Boerse Stuttgart Group, in a move to improve settlement efficiency and reduce fragmentation.

This initiative seeks to modernize post-trade infrastructure, improve efficiency and accelerate the adoption of tokenized securities across Europe.

With an initial focus on structured products, the partnership will facilitate faster, cheaper and seamless solutions while supporting compliance with European regulations such as MiFID II and the DLT Pilot Regime.

According to Roland Chai, representative of Nasdaq, Europe's financial markets struggle with fragmentation and operational inefficiencies that hamper the region's potential. Tokenization provides a way to improve settlement and collateral processes while maintaining regulatory rigor and market stability, he said.

“This partnership builds on our broad vision of future market infrastructure, which includes ongoing work across trading, clearing, settlement, risk management and collateral,” Chai said.

Seturion, launched in September 2025, provides a unified settlement solution for the European post-trade ecosystem, providing fast, cost-effective transactions across all asset classes using public and private blockchains, as well as central bank money and on-chain cash.

Its open architecture has been tested in the ECB blockchain experiments, with places like BX Digital of Börse Stuttgart as an early customer.

Dr. Matthias Voelkel, CEO of Börse Stuttgart Group, described Nasdaq as “the absolute leader in the field” and the first partner to join the Ceturion network. The platform represents an effort to prevent a single European capital market from becoming a reality, as Voelkel described as “silos of national settlement infrastructure”.

Nasdaq announced this morning to launch an equity token framework to modernize share ownership, investor engagement and trading infrastructure.

Working with Kraiken's parent company Payward, the exchange will connect traditional exchanges and blockchain networks, ensuring full legal equality, issuer control and global market access.