Frankfurt-based 21x, a venue for trading tokenized stocks, bonds and funds regulated by German financial watchdog Bafin, has consolidated its circle USDC Stablecoin as the main settlement currency on its platform.
The USDC integration is part of 21x’s mission to create a multicurrency, mica-aligned open market environment for institutional trading of tokenized securities, the company said Monday.
Tokenization is where traditional finance immerses its toes in public cryptocurrency arenas. The circle, which will soon be listed on the New York Stock Exchange, is an obvious choice when it comes to stubcoin issuers, due to highly regulated European utilities like 21x.
With USDC available on 21x market infrastructure, users are all sected in US dollars from wallet-based atomic settlements of various tokenized equipment, including stocks, bonds and financing equipment, 21x said in a press release.
“Circle is deeply committed to supporting regulated infrastructure that increases trust and transparency in the digital asset market,” said Sanjacon, Circle’s vice president of Europe. “Making USDC available to resolve 21x tokenized securities, Europe’s first DLT exchange, will encourage adoption of on-chain finance and foster a more efficient and accessible capital market.”
