← Embedded Finance Index 2026

Börse Stuttgart

“Can Börse Stuttgart transform from a traditional exchange operator into the dominant infrastructure layer for tokenised securities and digital asset custody in Europe?”

HQStuttgart, Germany
IndustryBank / National
The story

Börse Stuttgart Group, historically Germany's second-largest stock exchange, pivoted aggressively into digital and crypto from 2018 onward—launching a custody subsidiary, a retail crypto app (BISON), and a regulated digital asset exchange (BSDEX). The group embedded regulated banking infrastructure via Solarisbank to power KYC/onboarding and e-money services for its crypto products. In 2026 it launched Seturion as a pan-European blockchain-based securities settlement network, positioning the group as infrastructure for the tokenised-securities ecosystem rather than merely a venue operator.

Last 12 months
2026-05
Product timeline
2018
Founded Boerse Stuttgart Digital Custody GmbH to provide fiduciary custody services for cryptocurrencies for retail and institutional investors.· banking
2019
Launched BISON App, a multi-award-winning crypto trading platform operating under the Boerse Stuttgart Group umbrella.· pivot
2022
Established Boerse Stuttgart Digital Exchange GmbH (BSDEX), a regulated digital asset exchange, using Solarisbank for regulated banking/e-money infrastructure.· banking
2026
Launched Seturion, a pan-European settlement platform for tokenised securities, announcing strategic partnerships with flatexDEGIRO, Société Générale, and SG-FORGE.· acquisition
Regulated entities
2
regulatory licences held by Börse Stuttgart
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Börse Stuttgart’s embedded-finance stack
Banking / BaaS
Solarisbank
Crypto
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.