Nasdaq has entered a strategic partnership with Boerse Stuttgart Group’s which will see the trading venue connect to tokenised settlement platform Seturion. 

Specifically, Nasdaq will connect its European trading venues to Seturion’s platform, enabling tokenised securities executed on those venues to settle through the distributed ledger-based infrastructure. 

The move is aimed at facilitating the trading and settlement of tokenised securities across Europe. According to the firm’s, the collaboration will improve the efficiency of Europe’s post-trade environment while preserving existing trading workflows and market structures – including Mifid II and the EU’s DLT Pilot Regime. 

The initiative will initially focus on structured products, with the partners aiming to expand the ecosystem of issuers, brokers and other financial institutions connected to the platform over time. 

Roland Chai, president of European market services and head of digital assets at Nasdaq, said: “European capital markets face fragmentation and efficiency challenges that limit the region’s competitive potential. Tokenisation presents a transformative opportunity to address inefficiencies in settlement and securities processing workflows, while preserving the trust, stability, and regulatory rigour that underpin well-functioning markets.  

“This partnership builds on our broader vision for the future of market infrastructure, encompassing continuous operation across trading, clearing, settlement, risk management, and collateral.” 

Read more: Tokenisation edging towards inflection point 

Boerse Stuttgart Group launched Seturion in September 2025. The infrastructure supports multiple asset classes across both public and private distributed ledger (DLT) networks and enables settlement against central bank money as well as on-chain cash. 

Matthias Voelkel, chief executive of Boerse Stuttgart Group, explained: “With Seturion, we are building the pan-European settlement platform for tokenised assets. As an open industry solution, Seturion contributes to overcome current national settlement infrastructure silos and to turn a unified European capital market into reality. 

“We are delighted to welcome Nasdaq – an absolute leader in its field, as Seturion’s first partner and look forward to scaling Seturion across Europe.” 

Back in September 2025, Nasdaq submitted a filing to the US Securities and Exchange Commission in a move which is set to allow for the trading of tokenised securities on its markets.   

Specifically, the proposed rule change was set to enable Nasdaq member firms to trade tokenised versions of equity securities and exchange traded products (ETPs) as regular securities.