Bit2Me STX wins CNMV approval to run Spain's first blockchain-native stock exchange

Bit2Me Security Tokens Exchange has won authorisation from Spain's CNMV to operate a trading and settlement system under the European Union's DLT Pilot Regime, the company said, clearing the way for a blockchain-native stock exchange that never closes.

The licence lets the Bit2Me subsidiary run a regulated market for issuing, trading, custodying and settling security tokens - traditional instruments such as shares, corporate bonds and funds that are issued, traded and settled natively on distributed ledger technology. Bit2Me said the approval makes STX a pioneer in Europe and positions Spain as a reference point for the digital transformation of capital markets, aimed particularly at mid-cap companies in technology, growth, pharma and renewable energy. The company described the venture as "the stock exchange of private markets".

STX's market operates 24/7, with smart contracts replacing traditional clearing houses and enabling instant atomic settlement on a T+0 basis through delivery-versus-payment. A bank custodian links the venue to the wider financial system by tokenising euro deposits, Bit2Me said.

Alongside the trading and settlement licence, a securities agency authorisation allows STX to manage market instruments, act as the entity responsible for registration and recording, and custody and trade tokenised securities on behalf of third parties. That creates both a primary and a secondary market that removes post-trade intermediaries, all under CNMV supervision and aligned with European regulatory standards, according to the company.

The approval adds a regulated European venue to the small but growing group of exchanges built directly on blockchain rails, and tests whether the EU's pilot regime can draw mid-sized issuers that find traditional listing costly and slow.