21X, a German fintech firm, has received regulatory approval from BaFin, Germany’s financial supervisory authority, to launch a blockchain-based tokenization platform. This license allows 21X to operate a fully regulated trading and settlement system for tokenized financial instruments, adhering to European Union laws.
Scheduled to launch in the first quarter of 2025, the platform will offer a comprehensive suite of services including tokenization, issuance, distribution, listing, and trading. Based in Frankfurt, the platform aims to serve both institutional and retail investors by providing a secure and efficient trading environment powered by blockchain technology.
21X’s approval falls under the EU’s DLT Pilot Regime, a regulatory framework designed to foster innovation in blockchain-based financial services. The regime enables market infrastructures to operate under temporary exemptions from certain EU financial regulations, promoting the development of new DLT-based trading and settlement systems.
To enhance the capabilities of its platform, 21X has partnered with Polygon and Chainlink. Polygon’s proof-of-stake blockchain network will facilitate efficient trade execution and settlement, while Chainlink will provide on-chain finance services, ensuring seamless integration with traditional financial systems.
