Swiss DLT trading venue BX Digital is moving closer to operational launch as it begins onboarding its first five trading participants. The step follows the company’s receipt of a DLT trading facility licence from Swiss regulator FINMA in March, the first of its kind in Switzerland, reports the company.
The initial group includes three Swiss banks: Sygnum Bank, Incore Bank, and Hypothekarbank Lenzburg, along with securities firms ISP Group and EUWAX AG, a broker for Boerse Stuttgart Group. All five are currently being onboarded and are expected to participate in trading once the system goes live.
BX Digital is building a trading and settlement infrastructure based on public blockchain technology, targeting institutional users in the Swiss market. By removing traditional intermediaries such as central securities depositories (CSDs), the platform aims to streamline processes around trading and settlement of tokenised assets.
DvP setup
The trading facility is designed to enable direct settlement of assets in Swiss francs on a public blockchain, using a delivery-versus-payment (DvP) model. According to BX Digital, integration with the Swiss National Bank’s payment system will support alignment with existing banking infrastructure.
The venue will support trading in tokenised instruments, including shares, bonds, and funds, between regulated financial institutions. The goal is to offer faster settlement and reduce operational complexity while maintaining regulatory oversight.
Regulated market
With onboarding underway, BX Digital is now preparing for the platform’s live launch in the coming months. The initiative is part of a broader push in Switzerland to establish regulated infrastructure for digital asset markets, following the introduction of the DLT Act in 2021.
