21X, the operator of the EU-regulated on-chain trading and settlement system, and DekaBank, the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe), announced the completion of an on-chain trade on the Polygon testnet.
This marks a step forward in their collaboration “to integrate and expand tokenized asset capabilities for their clients.”
The transaction demonstrated the “technical feasibility of a joint system that leverages 21X’s blockchain-based infrastructure and DekaBank’s custody solution.”
This phase focused on a secondary market trade “of tokenized assets via smart contracts, proving the end-to-end functionality of the platform for a more efficient and secure transaction workflow.”
This announcement follows the “launch of the 21X secondary market, which has established a new benchmark for on-chain trading and settlement of financial instruments.”
The partnership with DekaBank is “a further step in the growth of the 21X ecosystem, aiming to bring the benefits of tokenization to a wider institutional audience.”
Going forward, 21X and DekaBank plan to “extend the project scope.”
As a depositary bank and licensed crypto securities registrar “under the German eWpG (Gesetz über elektronische Wertpapiere), DekaBank plans to extend its services further for issuers and investors on 21X.”
Max J. Heinzle, CEO of 21X said:
“The completion of these transactions with DekaBank is a testament to our shared vision for the future of capital markets. DekaBank is a pioneer in the German market, and this partnership is a significant step in our mission to onboard leading financial institutions onto our regulated platform. This collaboration, in conjunction with the recent launch of our secondary market, reinforces the momentum behind the 21X ecosystem.”
Thorben Lüthge, Head of Markets at DekaBank, points out:
“Our partnership with 21X supports the development of deep and liquid secondary markets for digital assets, enabling scalability. We look forward to this collaboration and to unlocking the full potential of digital assets for our clients.”
He added:
“This is an important step that allows us to build on our broader digital asset services for savings banks and other institutional clients and reinforces our commitment to shaping tomorrow’s financial markets together with our partners.”
This partnership represents a significant step “by both companies to work together to offer a more efficient and inclusive capital market ecosystem.”
By leveraging distributed ledger technology (DLT) and “fostering collaboration, 21X and DekaBank unlock new opportunities for investors, issuers, and intermediaries across the globe.”
Deka Group, consisting of DekaBank Deutsche Girozentrale and its subsidiaries, is the securities services “provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe).”
With total customer assets under management “of 427 billion euros (as at 30.06.2025) and 5.9 million securities accounts, it is one of the largest securities service providers and real estate asset managers in Germany.”
Deka Group offers investment solutions and “services for private and institutional investors and aligns its products with the requirements of its owners, the savings banks.”
21X is a Frankfurt-based financial institution claiming to be “at the forefront of revolutionizing capital markets through the use of blockchain technology.”
On 8th September 2025, 21X opened the “regulated distributed ledger technology trading and settlement system (DLT TSS) trading venue in the EU, positioning the company as a leader in the transition from traditional to tokenized asset-based capital markets.”
21X enables atomic trading without counterparty or credit risk “through smart contract-based issuance, trading and settlement of tokenized stocks, bonds, and funds.”