Bit2Me STX wins CNMV approval for blockchain-native stock exchange

Bit2Me STX, a subsidiary of the Spanish crypto group Bit2Me, has obtained authorization from Spain's securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), to operate a Trading and Settlement System (TSS). The licence falls under the European Union's Pilot Regime for market infrastructures based on distributed ledger technology (DLT).

With the approval, STX is officially launching its blockchain-native stock exchange. In Spanish the authorized venue is known as a Sistema de Negociación y Liquidación (SNL), a structure that combines trading and settlement of financial instruments in a single infrastructure.

What the licence means

The DLT Pilot Regime is an EU framework that lets regulated operators test market infrastructures built on blockchain-type technology. Authorization under this regime means STX can operate within a supervised legal framework rather than outside the traditional financial rulebook, which is a significant step for a company that comes from the crypto sector.

For Bit2Me, the move extends the group's activity from crypto-asset services toward regulated capital-markets infrastructure. It also adds to the number of European players seeking to bring securities trading and settlement onto distributed ledgers.

What to watch

The announcement positions Spain as one of the jurisdictions where a DLT-based exchange has now cleared the pilot-regime authorization process. Details such as the instruments that will be admitted to trading, the participants and the timetable for operations will determine how quickly the platform gains traction and how it compares with conventional exchanges and settlement systems.