
FILE PHOTO: A representation of cryptocurrency Ethereum is placed on a PC motherboard in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
ZURICH (Reuters) - Switzerland's financial market regulator FINMA has granted a Swiss subsidiary of the Stuttgart Stock Exchange a licence to operate a blockchain-based trading system in the country, the unit, BX Digital, said on Tuesday.
The core element of the new BX Digital trading system is direct settlement and transfer of assets via a blockchain based on the Ethereum operating system, without the need for intermediaries such as central securities depositories.