Tokenized Securities Trading Venue 21X Adds Circle’s USDC Stablecoin

Frankfurt-based 21X, a venue for trading tokenized stocks, bonds and funds regulated by Germany’s financial watchdog BaFin, has integrated Circle’s $USDC stablecoin as a key settlement currency on the platform.

The $USDC integration is part of 21X’s mission to build a multi-currency, MiCA-aligned, open market environment for institutional trading of tokenized securities, the company said on Monday.

Tokenization is where traditional finance dips its toe into the public cryptocurrency arena. Circle, which is soon to list on the New York Stock Exchange, is the obvious choice when it comes to an issuer of stablecoins for a highly regulated European utility like 21X.

With $USDC available on 21X’s market infrastructure, users will benefit from wallet-based, atomic settlement of a diverse range of tokenized instruments, including equities, bonds, and fund instruments - all denominated in USD, 21X said in a press release.

“Circle is deeply committed to supporting regulated infrastructure that fosters trust and transparency in digital asset markets,” said Sanja Kon, vice president for Europe at Circle. “Making $USDC available to settle tokenized securities on 21X - Europe‘s first DLT exchange - will drive the adoption of on-chain finance, and foster more efficient and accessible capital markets.”