21X LLC is seeking US regulatory approvals to be a US broker-dealer that will operate an alternative trading system (ATS) offering subscribers the ability to trade tokenized securities. Ray Tierney, a capital markets veteran, will lead US operations as CEO, 21X LLC.
The move into the world’s largest capital market marks 21X Group’s first expansion outside Europe, where 21X AG operates the first fully regulated trading and settlement system for tokenized securities in the EU. 21X Group will build on that experience to develop an offering tailored to US regulatory requirements, market structure and the needs of US market participants, subject to pending US regulatory approvals.
Max Heinzle, Founder and CEO, 21X Group, stated: “Our ambition has always been global. Recent regulatory advances in the US – opening the way for tokenized securities trading and stablecoin adoption – are what led 21X Group to enter this dynamic capital market. The US is fast becoming the most vibrant environment anywhere for tokenized securities. Seeking US regulatory approvals to form a broker-dealer that will operate an ATS – and establishing our presence in the country, with Ray Tierney leading it – are key elements in our ambition to help make on-chain issuance, trading and settlement of tokenized securities the standard for how capital markets operate.
Together with leading financial institutions, infrastructure providers and key ecosystem partners, 21X AG is shaping the rails for blockchain-based capital markets in Europe – and defining the operational standards for the coming decades. We have already developed market infrastructure technology to operate our trading and settlement system in the EU, with wallet-based trading and atomic on-chain settlement under robust regulatory supervision – built to scale.”
Ray Tierney, CEO, 21X LLC, added:
“The US’ embrace of tokenization has only just begun, and with it the significant infrastructure shift – which makes this an exceptional time to launch a blockchain market infrastructure in the US. And the infrastructure decisions being made now will determine which firms have a seat at the table as tokenized capital markets mature. I am excited to establish the new rails of capital markets as part of 21X LLC in the US.”
Source: 21X
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