Frankfurt-based 21X has introduced what it described as the first regulated exchange for tokenized securities and stablecoins, signaling a potential shift in how global capital markets operate. The platform, which commenced operations on September 8, is being monitored by Germany’s BaFin, the Bundesbank and the European Securities and Markets Authority.
The new exchange has been designed to facilitate atomic, smart contract-enabled matching and settlement of trades. Unlike conventional systems that can take several days or even weeks to finalize transactions, the platform reportedly allows settlement to occur within just two seconds.
Growing industry support
The initiative has already secured participation from more than 30 entities and gained backing from several international industry leaders. Among its supporters are blockchain-focused organizations such as Chainlink, Circle, Polygon and SBI Digital Markets. Other contributors include established financial players like ABN Amro, Apex Group, Stellar and Tradevest.
According to company disclosures, more than 100 financial instruments from prominent issuers are in preparation for listing. This development builds on the company’s earlier move in May when it launched its primary market with the listing of a tokenized note, marking one of the initial steps in its broader strategy.
Flexible trading options
The exchange provides investors the ability to trade using stablecoins, digital cash or traditional fiat currencies. At present, trading is available on weekdays from 8 a.m. to 5 p.m. CET, although expansion to a 24/7 operating model is already being planned.
The initiative has been framed as a response to growing demand for faster, more efficient and accessible trading systems in the digital era. By integrating blockchain-powered settlement mechanisms, 21X is aiming to reduce inefficiencies that have long been associated with traditional financial infrastructures.
CEO outlines vision
Max J. Heinzle, founder and chief executive of 21X, has characterized the launch as a transformative moment for capital markets. He explained that for the first time, securities trades can be executed atomically, directly between parties, and in real time, eliminating the need for central securities depositories or clearing services.
Heinzle highlighted that the platform simplifies transaction workflows, lowers costs by more than half, and makes the market more inclusive. By opening participation to corporates, institutions and banks alongside established financial firms, the exchange intends to broaden access to tokenized financial instruments and reshape the way assets are traded globally.
A step toward a digital future
Market observers have suggested that the entry of 21X could accelerate the adoption of tokenization in mainstream finance. The combination of regulatory oversight, advanced blockchain-based settlement technology and participation from well-known industry players is seen as strengthening the credibility of digital assets in capital markets.
With the launch, 21X has positioned itself as a key player in bridging traditional finance with blockchain-based innovation. Its vision appears to be centered on redefining how securities and digital assets are issued, traded and settled in an increasingly digitized financial landscape.