21X, a Frankfurt-based financial institution, has made history with the launch of its exchange for tokenised cash and securities.
Under the oversight of BaFin, the Bundesbank, and ESMA, 21X is the world’s first exchange to enable smart contract-based matching and settlement.
“The launch of 21X marks the ‘Spotify moment’ for capital markets where on-chain is the new online,” said Max J. Heinzle, founder and CEO at 21X.
“For the very first time a security trade is settled atomically, peer-to-peer, in real time, no longer requiring central securities depositary nor clearing services.”
21X has developed an accessible financial market infrastructure powered by blockchain technology, backed at launch by industry players such as Circle and Chainlink.
The launch offers a differentiated digital asset exchange that opens access to corporates, institutions and banks alike, unlocking entirely new uses and business cases, according to the firm.
While maintaining the same standards of security, compliance and transparency as traditional financial systems, 21X will soon expand beyond CET to 24/7 trading for global industry needs.
“Today, investors worldwide can directly access our blockchain-based exchange that finally delivers what digital securities have promised – unparalleled transaction speed, reduced risk, disintermediation, accessibility, transparency and significant cost reductions,” added Heinzle.
“We are breaking down the walled gardens created by other exchanges that limit participant access exclusively to regulated institutions.”
