German-based fintech platform 21X has secured regulatory approval to launch a tokenization platform. The company announced today (December 3) that it received a licence to operate a blockchain-based trading and settlement system regulated by European laws.
21x is one of the four applicants for a blockchain trading infrastructure permit under the European Union’s DLT Pilot Regime. Granted by German financial supervisory authority, ‘BaFin’, the license enables 21X to launch its exchange for tokenized financial instruments from its head office in Frankfurt.
Following the approval, 21X plans to launch in the first quarter of 2025. Upon launch, the services on offer will include tokenization, issuance, distribution, listing, and trading.
🚨Exciting times in #Fintech! 🇩🇪 #21X just got BaFin approval to launch a cutting-edge blockchain tokenization platform under the EU’s DLT Pilot Regime. Partnering with @0xPolygon & @SBIDigital, they're set to revolutionize trading & settlement from Frankfurt in early 2025. CEO… pic.twitter.com/oowZRwOoIU
— Samuel Wilson (@coincontext) December 3, 2024
What Is The DLT Pilot Program?
The EU’s DLT Pilot Regime is a legal framework for trading and settlement of transactions in cryptocurrency assets that qualify as financial instruments under the Markets in Financial Instruments Directive and Regulation (MiFID II).
Coming into play in March of last year, the program facilitates the setup of new types of market infrastructures. This includes; distributed ledger technology (DLT) multilateral trading facility, DLT settlement system and DLT trading and settlement system.
21X stated that the licence was received in 18 months and that the firm was in constant communication with BaFin, the German Federal Bank, and EU authorities throughout the process.
In a press release regarding the approval, 21x founder and CEO Max Heinzle said, “This is more than just a license, it’s a revolutionary moment for capital markets.” He went on to add; “For the first time ever, institutional and retail investors can trade and settle tokenized securities on a fully regulated, blockchain-based exchange with the same level of trust, security and compliance as traditional markets.”
21X collaborates with Polygon and Chainlink
I‘m excited to share that we have signed ✍🏻 a new partnership. 🤝🏻@SergeyNazarov and team @chainlink, to a fruitful collaboration that will transform capital markets globally. 🚀🌍
I can‘t wait to present to the world what our teams will turn into reality. #LFG! 🫡 https://t.co/RpqGYBZ6Zo
— Max J. Heinzle (@max_heinzle) December 2, 2024
Throughout the development of its blockchain-based trading platform, 21X has been working with multiple web3 partners, including the Ethereum Layer-2 blockchain Polygon, the global financial services provider Apex Group, and SBI Digital Markets, a subsidiary of the Japanese financial conglomerate SBI Group.
However, yesterday (December 2), 21X announced a strategic partnership with the Oracle specialist platform Chainlink, calling it the “standard for on-chain finance.” On the Chainlink partnership, Heinzle said, “I‘m excited to share that we have signed a new partnership with Sergey Nazarov and Chainlink, a fruitful collaboration that will transform capital markets globally. I can‘t wait to present what our teams will turn into reality to the world!”
BONUS: Pepe Unchained (PEPU) Launches In 10 Days With Rumours Of Tier-1 Exchange Listing Not Going Away
What do YOU think Pepe is listening to while he's working on his L2? 💚🎧 pic.twitter.com/4HgLKSSDXg
— Pepe Unchained (@pepe_unchained) December 2, 2024
Pepe Unchained (PEPU) is set to launch in just 10 days after one of the most successful presales of all time. PEPU raised over $64 million in just a few months. Now, strong rumors are circulating of a potential tier-one exchange listing upon launch.
Speculation about a Binance listing is causing a lot of excitement. Many believe this will catapult PEPU to become a $1 billion token, which has proven true for many other meme coins that received a Binance listing.
The community for Pepe Unchained has grown exponentially throughout the presale, highlighting its potential. There are over 18,000 Telegram subscribers and over 67,000 followers on X.
With Pepe Unchained being more than a meme coin and aiming to become the Ethereum Layer-2 blockchain for meme coins, the potential for PEPU can not be underestimated.
Presale participants can begin earning staking rewards immediately, with over 50% APY on offer for anyone participating.
The Pepe Unchained presale accepts ETH, USDT, BNB payments, and fiat card options. Buyers will need a crypto wallet, such as Best Wallet, to store their tokens.
EXPLORE: Nike-Owned NFT Brand RTFKT To Cease Operations By January 2025
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