Euronext Develops a Crypto Platform with a Dedicated Team

Euronext is venturing into digital assets by developing a platform for tokenized assets, after years of caution. In March 2024, CEO Stéphane Boujnah emphasized the need for regulatory support before committing to crypto-assets. Two years later, Euronext has formed a dedicated team and is working on a platform for the issuance, trading, and settlement of tokenized stocks, ETFs, and bonds. Job postings indicate technical directions, including a hybrid architecture combining permissioned networks and public blockchains like Ethereum. Euronext is considering a Bring Your Own Custody (BYOC) model for asset custody, with Fireblocks and Taurus as potential solutions. The terminology used in the job postings shows that the project aims to integrate tokenized assets into the traditional trading chain. During a call with analysts, Boujnah confirmed that productivity gains from artificial intelligence would be reinvested into this initiative, but no launch date or revenue targets were specified. The European DLT pilot regime, in effect since 2023, allows for the experimentation of trading tokenized financial instruments, and Euronext may follow this path.