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FRANKFURT, 23 January 2024: 21X - which will soon bring to market its unique trading and settlement system for digital assets based on distributed ledger technology (DLT) – has today announced that it has partnered with Backed Finance AG to enable tokenized real-world assets to be traded on-chain with 21X.
Backed will list tokenized financial instruments on 21X’s DLT exchange. By ensuring technical compatibility with 21X, and structuring assets in accordance with the EU DLT regime, Backed will gain access to a regulated secondary market infrastructure, increasing the number of potential investors globally and deepen the liquidity of Backed assets.
Max J. Heinzle, founder and CEO of 21X, said:
“The cooperation between 21X and Backed will broaden the spectrum of tradeable assets on 21X, allowing us to become a major force in the burgeoning market for tokenized securities. This is the latest in a series of significant partnerships that 21X has concluded in recent months that will make us ready to launch 21X as we work closely with the regulator towards securing our license to operate an ESMA-regulated DLT exchange.”
Adam Levi, co-founder at Backed, added:
“Our partnership with 21X is great news for investors of tokenized real-world assets. Bringing our assets onto 21X’s regulated secondary market infrastructure will lead to greater liquidity of our tokenized securities. The combined offering of Backed’s issuance and tokenization services and 21X’s on-chain trading venue will foster the adoption of real-world assets through tradability and accessibility across the globe.”
Backed issues bTokens - permissionless ERC-20 tokens – that track the value of real-world assets, such as stocks, bonds or ETFs on the blockchain. bTokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are distributed on-chain in compliance with the Swiss DLT Act.
In March 2023, 21X applied for a license to operate a DLT trading and settlement system in accordance with the European Union’s DLT regime. After the go-live, Backed’s bTokens will be admitted to trading on 21X, enabling the clients of Backed to trade their assets on the 21X exchange.
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.
About Backed Finance
Swiss- based Backed bridges real-world assets on-chain. Backed issues on-chain tokens that track the value of real-world assets, such as stocks or ETFs. Tokens are freely transferable across wallets, are fully collateralized by the underlying asset, and are issued in compliance with the Swiss DLT Act.
*Backed’s tokens are not offered, sold or delivered within the United States, or for the account or benefit of U.S. Persons.
For more information on 21X, contact:
For more information on Backed Finance AG, contact: