21X selects eflow Global’s regulatory technology as it builds Europe’s first fully regulated DLT exchange

21X selects eflow Global’s regulatory technology as it builds Europe’s first fully regulated DLT exchange

21X has chosen eflow’s holistic regulatory technology to power its compliance strategy as it creates Europe’s first DLT exchange infrastructure for crypto assets and security tokens

FRANKFURT, 13 June 2024: 21X – a DLT market infrastructure for the trading of digital assets and which has applied for a license to operate a DLT-based trading and settlement system under the European Union’s DLT regime – today announced that it has selected the award-winning digital compliance tools from UK-based RegTech (Regulatory Technology) scaleup, eflow Global, to underpin its regulatory compliance strategy.

21X has implemented eflow’s solutions for trade surveillance, best execution and transaction reporting to support its mission to build Europe’s first fully regulated Distributed Ledger Technology (DLT) exchange infrastructure for security tokens and crypto assets. The use of eflow’s integrated systems has enabled 21X to streamline its operational processes while meeting the firm’s requirement for stringent regulatory controls.

With 21X being regulated as a financial institution, it will be expected to meet the highest standards of compliance set by regulatory bodies. This meant that it was critically important for 21X to select a technology partner that was able to meet all of its regulatory technology requirements as it develops a trading system that is fully ESMA-regulated.

Max Heinzle, CEO at 21X, commented: “21X has partnered with eflow as it has the market-leading tools to ensure we meet the exacting digital market infrastructure compliance and analysis demands of the regulator. We were particularly taken with eflow’s market behaviour analysis tools which examine market movements not just by looking at micro factors – company announcements, product news, and industry trends, for example – but also through global events – from earthquakes to national elections. This more holistic approach can be a better way to examine market activity to differentiate between standard market changes and fraudulent behaviour.”

Heinzle added: “I also believe eflow’s approach to conducting its business closely aligns with our own as a dynamic start-up organisation with strong ambitions. This stage in a company’s development requires great flexibility, a can-do attitude and the right personnel to succeed. Especially in a fast-moving, nascent market environment, as it is for digital assets, you need to bond with like-minded pioneers like eflow.”

Ben Parker, CEO and Founder of eflow Global, commented: “The regulatory landscape is evolving rapidly, with external threats, the role of AI and the sheer volume of upcoming regulations creating mounting pressure for businesses. 21X is at the forefront of innovation in the blockchain and crypto sectors and our partnership highlights the crucial importance of firms having a truly integrated regulatory solution as a way of staying ahead of the curve. We look forward to continuing to support the business as it continues to scale in the coming years.”

NOTES TO EDITORS

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). With the institutional adoption of tokenized securities, 21X is ideally positioned to enable smart contract-based issuance, trading and settlement of tokenized stocks, bonds and funds. 21X has submitted its license application to operate a DLT trading and settlement system (DLT TSS) and is expected to be one of the first companies authorized to operate under the EU DLT regime. https://www.21x.eu/

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

About eflow Global

Founded in 2004, eflow Global provides financial firms with technology solutions to help them comply with their regulatory requirements in a more streamlined, efficient and robust way. It  offers award-winning solutions for market abuse surveillance, best execution, transaction-cost analysis, transaction reporting and eComms surveillance. The company currently services over 110 clients across five continents, providing both buy-side and sell-side firms with highly configurable digital tools that are designed to keep them compliant and competitive in this ever-changing regulatory landscape. eflow’s regulatory solutions are delivered through a PATH, a unique digital ecosystem that offers the speed, convenience and efficiency of off-the-shelf software, combined with a level of customisation that is typically only associated with a bespoke platform. https://eflowglobal.com/

For further information please contact:

Eflow Global: Rosie Lane, rlane@thecommsco.com +44 7770 239888

21X: Richie MacTaggart, press@21.finance +44 7828 173419

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