21X – which recently received the first ever license to operate an EU-regulated venue for the trading and settlement of tokenized securities – and ABN AMRO have completed a joint partner initiative in preparation for the launch of 21X’s digital asset exchange.
21X on-chain trade of tokenized assets
With the successful completion of a joint proof of concept (PoC), ABN AMRO demonstrated membership readiness on 21X’s on-chain market infrastructure to facilitate tokenization, custody and trading functionalities for tokenized securities.
The joint PoC provides a practical demonstration of the end-to-end value chain for tokenized assets.
Building on ABN AMRO’s tokenization capabilities, the bank issued an ERC-3643 token on the Polygon Amoy Testnet which was listed by 21X as a trading pair with an ERC-20 based E-Money Token.
After successful listing on the Testnet, the matching of buy and sell orders was made atomically and settled on the blockchain within a few seconds.
The deployment of 21X’s on-chain order book smart contract enabled trading between tokenized cash and the tokenized asset in one single transaction.
Utilising ABN AMRO’s institutional wallet solution, it becomes the first bank to showcase membership readiness as a future participant on 21X.
“As part of our launch preparations we are now in the process of onboarding institutional participants,” explaiuns Max Heinzle, CEO of 21X.
“The PoC with ABN AMRO is a great example of raising awareness of the efficiency gains and cost savings that can be realised with our on-chain trading and settlement system.
Digital asset pioneers, such as ABN AMRO, are crucial to fostering innovation in capital markets to fulfil our mission to unlock the full potential of distributed technology.”
Following this successful project, the collaboration will be expanded to the live system for the upcoming launch of 21X, facilitating access to assets listed on 21X for ABN AMRO’s client base.
This partnership marks a significant step by both companies to work together to offer a more efficient and inclusive capital market ecosystem.
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