Switzerland Approves First DLT Trading Platform — A Big Step for Blockchain

March 18, 2025 – Zurich, Switzerland – Switzerland’s financial regulator FINMA has approved the country’s first DLT trading system. The platform is run by BX Digital AG, a company connected to the well-known BX Swiss AG and the Börse Stuttgart Group in Germany.

This is an important moment for Blockchain and Distributed Ledger Technology (DLT) in Europe. The platform allows banks and other approved institutions to trade digital securities — also called DLT-based assets — in a safe, legal, and modern way.

A DLT trading system is a place where digital financial products are bought and sold. These digital products are stored on a blockchain, a special type of database that keeps secure records on many computers at once. The blockchain is open and transparent, and everyone in the system can check the information.

BX Digital uses Ethereum, a public blockchain network, to move and record trades. To settle payments, it connects to the Swiss Interbank Clearing (SIC) system — the official payment system of Switzerland, managed by the Swiss National Bank.

A special tool called a smart contract helps complete trades. It makes sure the buyer gets the asset and the seller gets the money at the same time. This process is called Delivery-versus-Payment, or DvP. It is a smart way to reduce risk for both sides.

Switzerland passed a special law in 2021 to support Distributed Ledger Technology. This law made it possible for companies like BX Digital to apply for licenses and operate in a legal way. FINMA — the Swiss Financial Market Supervisory Authority — is responsible for making sure financial companies follow the rules.

The new law is part of Switzerland’s plan to be a global leader in fintech and digital finance. With this license, BX Digital can now offer digital trading services that follow strict rules and offer full protection for market participants.

This is not a crypto exchange for individuals. BX Digital is focused on regulated institutions, such as banks and financial firms, that want to enter the world of digital assets — but in a safe and structured way.

BX Digital has been approved as a “small DLT trading system.” This means it operates under lighter regulation because it does not go over certain size or volume limits. Even so, FINMA still required strong rules, clear planning, and secure technology before giving its approval.

For example, BX Digital had to prove it has a plan to keep its service running in case of problems (called Business Continuity Management or BCM). It also had to show that its smart contracts are safe and that the system can manage technical risks.

All of this helps build trust in Blockchain-based financial services, not just in Switzerland, but around the world.

Switzerland is known for stability, trust, and innovation. In recent years, the country has supported the development of Blockchain and DLT through clear laws and open cooperation with the fintech industry. The city of Zug, often called “Crypto Valley,” has become a hub for blockchain companies.

With the approval of BX Digital, Switzerland is showing that it is ready for the next chapter of digital finance — where modern technology meets solid regulation.

By combining Distributed Ledger Technology with secure payments and legal clarity, the country gives financial institutions a clear path to enter the Blockchain space — without taking unnecessary risks.

BX Digital plans to expand its services to include clearing, which is the final step in the trade process. As interest in tokenized assets grows, the platform may serve more clients and handle higher volumes in the future.

FINMA will continue to watch and guide this process, ensuring that both innovation and protection stay balanced. The hope is that this step will also encourage other countries to create similar legal systems for Blockchain and DLT trading platforms.

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FINMA bewilligt erstes DLT-Handelssystem

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