BX Digital, a subsidiary of the Stuttgart Stock Exchange, has been approved to operate digital asset trading

ChainCatcher news, according to CoinDesk, BX Digital, a subsidiary of the Stuttgart Stock Exchange in Germany, has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate a digital asset trading and settlement platform, becoming the first institution in Switzerland to obtain such a license.

The Zurich-based company will operate trading facilities using distributed ledger technology (DLT) to streamline the trading process of tokenized financial instruments. BX Digital will leverage the Ethereum blockchain to facilitate direct asset transfers without the involvement of intermediaries such as central securities depositories.