German Firm 21X Gets Approval to Launch a Tokenization Platform
21X, a German fintech firm, has secured regulatory approval from BaFin, the German financial supervisory authority, to launch a tokenization platform. This makes 21X one of the first companies to receive such approval under the EU’s DLT Pilot Regime.
The DLT Pilot Regime is a regulatory framework designed to facilitate the use of blockchain technology in financial markets. It allows market infrastructures to operate under temporary exemptions from certain EU financial services regulations, enabling them to innovate and experiment with DLT-based solutions.
With this approval, 21X plans to launch its exchange in the first quarter of 2025, offering services such as tokenization, issuance, distribution, listing, and trading of tokenized financial instruments. This development signifies a significant step forward for the adoption of blockchain technology in the European financial industry.
