21X is the first licensed trading and settlement system for tokenized financial instruments leveraging distributed ledger technology (DLT) under the EU DLT Regime. As a regulated market infrastructure and trading venue, 21X enables the issuance and trading of DLT-based financial instruments, such as tokenized equities, debt and fund instruments.
21X uses a central limit order book model implemented through smart contracts on the blockchain that are connected and supported by off-chain components to ensure regulatory compliance.
The core of 21X’s DLT Trading and Settlement System DLT TSS are orderbook smart contracts deployed on public permissionless blockchains that enable the trading and settlement of tokenized financial instruments between verified trading participants on 21X.
21X uses public permissionless blockchains as the foundation of its market infrastructure. Orders can be directly placed by participants through smart contracts, while transactions are being recorded on a distributed ledger, fostering data integrity and immutability.
Self-executing programs through smart contracts, deployed on a distributed ledger, are a ground-breaking technology in automating capital market processes. 21X uses smart contract-based orderbooks to enable trading and settlement of financial assets with verifiable terms in an automated, direct and secure manner without the need for central counterparties.
Tokenization is revolutionizing capital markets. Using distributed ledger technology, tokenized securities and stablecoins are the backbone of on-chain atomic trading. Asset tokenization unlocks access and liquidity for private and real-world assets on a global scale.
As a regulated financial institution and trading venue, 21X works with digital identities in the form of a whitelist smart contract to ensure permissioned access to verified participants only. In this way, 21X ensures that it is meeting KYC and AML requirements regulated by Mifid II and MiCAR.
We are fostering an interoperable, open digital asset ecosystem which will soon enable secure multi- and cross-chain operations.
21X operates on the Polygon proof-of-stake network, providing a secure and scalable foundation for low-latency, cost-effective transactions. While our journey starts on public permissionless blockchains, it is important to note that our smart contracts embed a permission layer at the smart contract level which ensure security and compliance. Building on the Ethereum virtual machine (EVM) environment using Solidity smart contracts which are compatible with all common security token standards. As part of our multichain strategy, 21X will soon extend to further public and permissioned blockchain protocols.
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21X AG
Große Gallusstraße 16-18,
60311 Frankfurt
Germany
