Boerse Stuttgart’s Seturion platform has added three major partners — Societe Generale, its crypto arm SG‑FORGE, and retail broker flatexDEGIRO — in a move designed to accelerate blockchain-based securities settlement across Europe.
What happened
- Announcement: May 21. Seturion, the Boerse Stuttgart Group’s open settlement network for banks, brokers and trading venues, will provide settlement for tokenized securities transactions between the new partners.
- Participants: Societe Generale (issuer), SG‑FORGE (stablecoin issuer), and flatexDEGIRO (retail order flow). Nasdaq’s European trading venues are also slated to connect to Seturion.
How Seturion works
- Multi‑chain support: The platform will settle transactions on both public and private blockchains.
- On‑chain settlement assets: It supports settlement against on‑chain money — including MiCA‑compliant stablecoins and central bank money — enabling straight‑through settlement of tokenized products across regulated market infrastructure.
What each partner brings
- Societe Generale: Plans to issue tokenized structured products — such as turbo warrants and investment certificates — via Seturion; those tokens are expected to trade on European venues connected to the network.
- SG‑FORGE: Will supply euro and dollar CoinVertible stablecoins (EURCV and USDCV). SG‑FORGE is described as the first MiCA‑compliant stablecoin issuer backed by a major European bank. Jean‑Marc Stenger, CEO of SG‑FORGE, framed the move as bridging digital assets and traditional finance, saying reference MiCA‑compliant stablecoins can enable secure on‑chain settlement.
- flatexDEGIRO: Will route European retail investor flow into Seturion. The broker serves more than 3.5 million customers across 16 countries and processed over 75 million securities transactions in 2025, giving Seturion a direct retail pipeline to test tokenized product lifecycle in regulated market rails.
Wider market context
- The partnership arrives as European financial firms push deeper into stablecoins and tokenized finance. For example, Qivalis recently expanded to 37 member institutions ahead of a planned euro stablecoin launch in H2 2026.
- Despite these initiatives, dollar‑pegged stablecoins still dominate global supply. Non‑dollar stablecoins totalled about $771 million by April 2026 — roughly 0.24% of the market — highlighting the challenge and urgency for Europe to build euro‑denominated digital rails.
Other SG‑FORGE activity
- SG‑FORGE has already deployed EURCV and USDCV on the Canton Network for institutional collateral management and repo finance use cases, demonstrating the stablecoins’ broader applicability beyond Seturion.
Why it matters
- The deal bundles issuers, MiCA‑compliant stablecoin settlement and retail order flow into a single, regulated settlement infrastructure. That combination gives Europe another real‑world test case for blockchain‑based securities settlement under regulated market conditions and could help accelerate adoption of tokenized securities and euro digital‑cash rails.
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