21X secures approval for blockchain trading and settlement platform
04 December 2024 Germany
Image: f11photo/stock.adobe.com
Germany’s financial supervisory authority has granted 21X a licence to operate a blockchain-based trading and settlement system under EU law.
The German fintech company plans to launch its exchange for tokenised financial instruments, including equity and debt securities, from its Frankfurt headquarters in the first quarter of 2025.
Max Heinzle, CEO of 21X, says: “This is more than just a license — it’s a revolutionary moment for capital markets. For the first time ever, institutional and retail investors can trade and settle tokenised securities on a fully regulated, blockchain-based exchange with the same level of trust, security, and compliance as traditional markets.”
This initiative is part of the European DLT Pilot Regime (DLTR), where financial institutions utilise distributed ledger technology (DLT) to develop new forms of market infrastructure.
Heinzle continues: “The EU’s regulatory framework is the key to unlocking mass adoption of tokenised money and assets. It enables self-custody; it removes clearing and corresponding settlement risks; it eliminates unnecessary complexities by reducing intermediaries — all leading to widespread efficiency gains and significantly lower costs.”
Marc Hegen, chief technology officer of 21X, adds: “The DLTR allows us to make extensive use of DLT and its fundamental advantages. We will be able to list natively tokenised securities and carry out matching and settlement atomically in a single blockchain transaction. This is a real game-changer and will transform financial markets.”
Operating on a public blockchain network, 21X will provide an end-to-end platform encompassing asset tokenisation, issuance, distribution, listing, and trading — all within the robust regulatory framework established by the EU.
21X has been working with partners, including Polygon, Apex Group, and SBI Digital Markets, to build an ecosystem that enables customer participation in digital asset markets.
Through its collaboration with Polygon Labs, the company is using the scalability and security of a public blockchain network to execute trades and settlements on-chain.
Ahead of the launch in early 2025, the company will team up with global financial institutions to list a variety of financial instruments on the exchange.
The German fintech company plans to launch its exchange for tokenised financial instruments, including equity and debt securities, from its Frankfurt headquarters in the first quarter of 2025.
Max Heinzle, CEO of 21X, says: “This is more than just a license — it’s a revolutionary moment for capital markets. For the first time ever, institutional and retail investors can trade and settle tokenised securities on a fully regulated, blockchain-based exchange with the same level of trust, security, and compliance as traditional markets.”
This initiative is part of the European DLT Pilot Regime (DLTR), where financial institutions utilise distributed ledger technology (DLT) to develop new forms of market infrastructure.
Heinzle continues: “The EU’s regulatory framework is the key to unlocking mass adoption of tokenised money and assets. It enables self-custody; it removes clearing and corresponding settlement risks; it eliminates unnecessary complexities by reducing intermediaries — all leading to widespread efficiency gains and significantly lower costs.”
Marc Hegen, chief technology officer of 21X, adds: “The DLTR allows us to make extensive use of DLT and its fundamental advantages. We will be able to list natively tokenised securities and carry out matching and settlement atomically in a single blockchain transaction. This is a real game-changer and will transform financial markets.”
Operating on a public blockchain network, 21X will provide an end-to-end platform encompassing asset tokenisation, issuance, distribution, listing, and trading — all within the robust regulatory framework established by the EU.
21X has been working with partners, including Polygon, Apex Group, and SBI Digital Markets, to build an ecosystem that enables customer participation in digital asset markets.
Through its collaboration with Polygon Labs, the company is using the scalability and security of a public blockchain network to execute trades and settlements on-chain.
Ahead of the launch in early 2025, the company will team up with global financial institutions to list a variety of financial instruments on the exchange.
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