Key Points
ABN AMRO, one of the largest banks in the Netherlands, has completed a trading trial with 21X, a digital asset exchange based in Frankfurt.
The trial involved on-chain settlement for tokenized securities using stablecoins.
Details of the Test
In an announcement made on Jan. 30, 21X revealed that the test involved listing a tokenized asset on its on-chain market.
ABN AMRO issued an ERC-3643 token on the Polygon Amoy Testnet, while 21X paired it with an ERC-20-based “E-Money Token,” without disclosing the asset’s name.
Max Heinzle, the CEO of 21X, stated that they are currently onboarding institutional participants as part of their launch preparations.
He also recognized the role of blockchain in reducing costs and improving efficiency in the on-chain system.
ABN AMRO has been engaged in digital assets for a while, including the issuance of tokenized green bonds.
Martijn Siebrand, the digital assets program manager at ABN AMRO, revealed that following the pilot, the bank is now adding “secondary market capabilities” to its scope.
This is being done through cooperation with the European DLT trading and settlement system.
21X, which received an EU-regulated trading license in December 2024, is planning to launch its exchange.
However, the exact timing remains unknown.
Germany is also making strides in asset tokenization.
In November 2024, the country’s central bank joined Singapore’s Project Guardian, an initiative by the Monetary Authority of Singapore that focuses on digital asset standardization and interoperability.
