21X Opens Regulated Exchange for Tokenized Assets

Frankfurt-based 21X has launched what it says is the first regulated exchange for tokenized securities and stablecoins, describing the event as the beginning of a "new era" for global capital markets.

The new platform, which went live on 8 September, operates under the oversight of Germany's financial regulator BaFin, the Bundesbank, and the European Securities and Markets Authority. It enables settlement of trades via atomic smart contracts within two seconds — a sharp contrast to traditional settlement periods that often take days or weeks.

More than 30 institutions have already joined the exchange, and the company said it has support from industry players including Chainlink, Circle, Polygon, and SBI Digital Markets. Additional partners include ABN Amro, Apex Group, Stellar, and Tradevest. Over 100 financial instruments from well-known issuers are in the pipeline for future trading.

The platform builds on 21X's primary market launch earlier this year, which featured the first listing of a tokenized note. Investors will now be able to transact using stablecoins, digital cash, or fiat currencies.

Trading is currently available on weekdays from 8 a.m. to 5 p.m. CET, with plans to expand to 24-hour operations.

Max J. Heinzle, founder and CEO of 21X, likened the development to a "Spotify moment for capital markets." He said the platform reduces workflows, cuts costs by more than half, and broadens access by opening participation to corporates, institutions, and banks in addition to traditional financial firms.