21X announced Monday that it has launched the first regulated exchange for tokenised securities and stablecoins, marking what the Frankfurt-based company called a “new era” for capital markets.
21X Launches World’s First Blockchain-Based Exchange for Tokenised Securities
The platform, which went live on 8 September under the oversight of BaFin, the Bundesbank and the European Securities and Markets Authority, is said to enable atomic, smart contract-based matching and settlement of trades.
Settlement now takes place within two seconds, compared with traditional timescales that can stretch to days or weeks.
The exchange, which already counts more than 30 participants, has attracted support from global industry players including Chainlink, Circle, Polygon and SBI Digital Markets.
Other backers include ABN Amro, Apex Group, Stellar and Tradevest. Over 100 financial instruments from leading issuers are in the pipeline.
Investors can trade using stablecoins, digital cash or fiat currencies, building on 21X’s earlier primary market launch in May, which featured the first listing of a tokenised note.
The exchange is currently open weekdays from 8 a.m. to 5 p.m. CET, with plans to expand to round-the-clock trading.
Max J. Heinzle, founder and chief executive of 21X, described the launch as the “Spotify moment for capital markets”, adding: “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.”
Heinzle said the platform compresses workflows, cuts costs by more than half, and democratises access by opening participation to corporates, institutions and banks alongside traditional financial firms.
