Swiss DLT Trading Platform Reveals First Five Participants—Banking Giants Finally Join the Blockchain Party

Switzerland’s much-hyped DLT trading system just named its inaugural players—five major financial institutions finally dipping their toes in the blockchain pool. Because nothing says ’innovation’ like banks cautiously testing the waters years after the crypto natives already built the ocean.

The lineup includes heavyweights from traditional finance, all now scrambling to stay relevant in a world where decentralized tech threatens to cut out their middleman fees. Watch closely: this could be the start of real institutional adoption—or just another case of legacy players slapping ’blockchain’ on old infrastructure and calling it progress.

First DLT trading system in Switzerland

A DLT trading system is a platform that uses distributed ledger technology (DLT) to trade financial assets such as securities on a blockchain. It ensures a transparent, secure, and efficient exchange of these assets while complying with Swiss financial regulations. In Switzerland, the approval of such platforms was established under the DLT Act in 2021. FINMA waited until March of this year before granting the first license to BX Swiss.

A central feature of the new DLT trading system is direct settlement in Swiss francs and the transfer of assets over a public blockchain - without the need for intermediaries such as central securities depositories. This saves time and costs, and enables the trading of tokenized assets such as shares, bonds, and funds between market participants like banks and securities firms. It significantly simplifies processes while ensuring maximum security and control over the assets. Payment and asset transfer are carried out based on verified delivery versus payment (DvP) agreements. Direct integration with the Swiss National Bank’s payment system allows for seamless incorporation into existing banking systems.

Launch in the coming months

All partners bring extensive experience in the digital asset business and aim to demonstrate their commitment to the advancement of the digital financial center by joining early, the press release continues. Their participation underscores confidence in the system’s technological capabilities and regulatory compliance. The onboarding launch marks a pivotal step. BX Swiss expects the trading system to go live within the next few months, signifying the transition from the development phase to active market operations.

"We are very pleased with the trust placed in us by our partners. Together, we are opening a new chapter in the digital capital market. This is the foundation for the imminent launch of our trading system. With these first participants, we are establishing the basis for a liquid and trustworthy ecosystem that will shape the digital financial center in the long term." – Lidia Kurt, Chief Executive Officer of BX Digital