Techub News reports, according to CoinDesk, that the German cryptocurrency startup 21X has announced it has received approval from the German Federal Financial Supervisory Authority (BaFin) and plans to launch a tokenized securities exchange based on Polygon in the first quarter of 2025. The exchange plans to trade tokenized equity, debt securities, funds, and real-world assets (RWA) such as real estate or artwork that qualify as financial instruments.

21X stated that the license was issued under the EU's DLT pilot regime (DLTR), with the approval process involving not only BaFin but also the Deutsche Bundesbank, the European Securities and Markets Authority (ESMA), and the European Central Bank (ECB).