Frankfurt-based 21X, a venue for buying and selling tokenized shares, bonds and funds regulated by Germany’s monetary watchdog BaFin, has built-in Circle’s USDC stablecoin as a key settlement forex on the platform.
The USDC integration is a part of 21X’s mission to construct a multi-currency, MiCA-aligned, open market setting for institutional buying and selling of tokenized securities, the corporate stated on Monday.
Tokenization is the place conventional finance dips its toe into the general public cryptocurrency enviornment. Circle, which is quickly to checklist on the New York Inventory Change, is the plain alternative relating to an issuer of stablecoins for a extremely regulated European utility like 21X.
With USDC out there on 21X’s market infrastructure, customers will profit from wallet-based, atomic settlement of a various vary of tokenized devices, together with equities, bonds, and fund devices – all denominated in USD, 21X stated in a press launch.
“Circle is deeply dedicated to supporting regulated infrastructure that fosters belief and transparency in digital asset markets,” stated Sanja Kon, vice chairman for Europe at Circle. “Making USDC out there to settle tokenized securities on 21X – Europe‘s first DLT alternate – will drive the adoption of on-chain finance, and foster extra environment friendly and accessible capital markets.”
