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

according to CoinDesk, BX Digital, a subsidiary of the Stuttgart Stock Exchange in Germany, has been approved by the Swiss Financial Market Supervisory Authority (FINMA) to operate a digital asset trading and settlement platform, becoming the first institution in Switzerland to receive such a license.

Based in Zurich, the company will operate trading facilities using distributed ledger technology (DLT) to streamline the trading process for tokenized financial instruments. BX Digital will use the Ethereum blockchain to facilitate direct asset transfers, without the need for intermediaries such as central securities depositories.