Boerse Stuttgart Group (BSG) has successfully tested blockchain-based securities settlement, reducing transaction times from two days to just minutes. The trials, part of an exploration by the European Central Bank (ECB), have demonstrated significant progress in digital capital markets. Major German banks have participated, including Commerzbank and Deutsche Bank. BSGâs Matthias Voelkel has highlighted the potential of blockchain as a game-changer for the digitization of European capital markets.
European Central Bank Discovery
One of Europeâs leading exchanges, Boerse Stuttgart Group (BSG), recently announced the successful completion of trials testing the settlement of exchange transactions using blockchain-based securities against central bank money. The trials, conducted as part of exploration by the European Central Bank (ECB), reportedly reduced transaction settlement times from two days to just minutes.
In a statement released on October 1, BSG said the successful trial represents significant progress in the development of digital capital markets. Major German banks including Commerzbank and Deutsche Bank were among the six financial institutions participating in the trial.
In addition to reducing payment times to minutes, the tests showed that the payment process could be âautomatically mapped, step-by-step and directly between the transaction participantsâ. Commenting on the milestone, Matthias Voelkel, CEO of Boerse Stuttgart Group, said:
âBlockchain technology is a turning point for the digitalization of European capital markets
. We at Boerse Stuttgart Group are pioneers in this field. With
Successfully completing the ECB blockchain tests, we have taken an important step forward in the EU. At
Switzerland, our tokenized stock exchange BX Digital will launch in 2024.
This exchange will use an innovative, blockchain-based payment solution developed by us.â
Meanwhile, the exchange team detailed the results of the experiment, claiming that their tests yielded insights not only from a single transaction but also from multiple test cases and different setups. Additionally, the payment processes were reportedly performed under both normal and exceptional conditions.
According to the statement, the European stock exchange groupâs brokerage firm, EUWAX AG, and its crypto custody unit, Boerse Stuttgart Digital Custody, participated in the ECBâs tests.
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