European tokenization platform Tokeny says it will now connect DINO to work with 21X a DLT (distributed ledger technology) trading and settlement system (DLT TSS). This is the first platform to operate under the new European Union DLT ecosystem. Tokeny’s DINO is an open distribution network for compliant ERC-3643 tokens.
21X is a smart contract-based trading venue that offers compliant trading of financial instruments according to the EU DLT Regime. It is said to be working with several tokenization companies to permit matching, trading, and settlement of tokenized assets. Based in Germany, 21X believes it is well-positioned to enable smart contract-based issuance, trading, and settlement of tokenized stocks, bonds, and funds.
By connecting with DINO, Tokeny will enable the trading of digital securities and real-world assets (RWAs). DINO is said to have already worked with more than 50 liquidity platforms.
Tokeny’s ERC-3643 tokens will be compatible with the trading and settlement system of 21X. Tokeny’s customers will be able to list their assets on an ESMA-regulated secondary markets.
At the same time, clients of 21X gain access to Tokeny’s white-label tokenization solutions.
Luc Falempin, CEO of Tokeny, said they are laying the foundation for the future of tokenization through collaboration.
Max Heinzle, Founder & CEO of 21X, commented on Tokeny’s 120 customers and the associated $28 billion of digital assets powered by Tokeny.
“Everybody is working hard to have all the elements of our digital asset ecosystem in place to go-live by the end of 2024,” said Heinzle.
