21X selected to participate in groundbreaking European Central Bank Initiative on DLT for wholesale CBDC settlement

21X selected to participate in groundbreaking European Central Bank Initiative on DLT for wholesale CBDC settlement

FRANKFURT, 24 June 2024: 21X – a distributed ledger technology (DLT)-based market infrastructure for tokenized securities which has applied for a license to operate a DLT trading and settlement system (DLT TSS) under the European Union’s DLT regime (DLTR) – today announced its selection by the European Central Bank (ECB) to participate in the Eurosystem’s exploratory work on using DLT for the settlement of wholesale transactions in central bank digital currency (CBDC)1.

This selection signifies a major step forward for 21X and underscores the company’s commitment to shaping the future of financial markets. Significantly, 21X is the only participating company that is also taking part in European Union (EU) DLT Pilot Regime.

Max Heinzle, founder & CEO of 21X, stated: “We are honoured to be chosen by the ECB to participate in this groundbreaking initiative. Our selection is a strong validation of the innovative work we’re doing at 21X, particularly as we build towards launching our own DLT-based market infrastructure later this year, subject to license approval by ESMA.”

The Eurosystem’s exploratory work is a multi-phase initiative designed to assess the potential of DLT for streamlining and enhancing wholesale financial market transactions. The second wave of participants, including 21X, will explore specific use cases across various scenarios, including domestic and foreign exchange payments, and a wide range of securities-related transactions. This builds upon the successful initial phase which focused on the simulated delivery-versus-payment (DvP) settlement of government bonds using DLT.

Participation in this initiative allows 21X to collaborate with leading players across the European financial landscape, including central banks and other private firms. This collaboration will provide valuable insights and real-world testing opportunities for 21X’s own DLT TSS platform.

“We believe DLT holds immense potential to transform the wholesale financial market,” continued Heinzle. “By participating in the ECB’s initiative, we’ll gain valuable experience and make key findings through testing, leading to refinements of our own DLT TSS platform while contributing to the broader development of this transformative technology within the Eurosystem.”

21X’s participation in the Eurosystem’s DLT exploration underscores the company’s dedication to fostering collaboration and innovation within the financial technology landscape.

This selection serves as a testament to 21X’s expertise and positions the company at the forefront of shaping the future of secure and efficient digital asset trading. 21X looks forward to actively contributing to the Eurosystem’s exploration and the shaping of the future of DLT-based CBDC settlement in Europe.

Notes to editors

1: To view a copy of the ECB’s press release: Second group of participants chosen to test DLT for settlement in central bank money, 21 June 2024, click here

About 21X

21X is a Frankfurt-based fintech, developing a blockchain-powered exchange for tokenized assets, which will operate under the regulatory supervision of the European Securities and Markets Authority (ESMA). 21X is a global exchange and distribution network for tokenized securities. Its state-of-the-art DLT TSS (distributed ledger trading and settlement system) infrastructure provides a secure, efficient, and compliant platform for trading and settling digital assets. 21X is committed to unlocking the full potential of tokenization by connecting issuers, investors, and intermediaries across the globe.

See the short explainer video on 21X and our blockchain-based exchange here.

For more information on 21X, contact:

Richie MacTaggart, Head of PR & Marketing

Mob: +44 7828 173419

Mail: press@21.finance

LinkedIn: https://www.linkedin.com/company/21x/

Web: https://www.21x.eu/


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