According to CoinDesk, BX Digital, a subsidiary of the Stuttgart Stock Exchange in Germany, has been approved by the Swiss Financial Market Regulatory Agency (FINMA) to operate digital asset trading and settlement platforms, becoming the first institution in Switzerland to obtain such licenses. The Zurich-based company will operate trading facilities with distributed ledger technology (DLT) to simplify the transaction process of tokenized financial instruments. BX Digital will use the Ethereum blockchain to promote direct asset transfer without the participation of intermediaries such as central securities custodians.