ABN AMRO and 21X have teamed up to make waves in the world of finance. They recently completed an onchain trade involving tokenized assets and stablecoins. This collaboration is a big step forward.

They conducted a proof of concept (PoC) on the Polygon Amoy Testnet. This was announced via email on Thursday. The trading pair included an e-money token, showcasing their innovative approach.

The smart contract developed by 21X allowed for smooth trading. It enabled a single transaction that connected tokenized cash with the tokenized asset. This makes the trading process much simpler.

21X is based in Frankfurt and is working on a blockchain-based exchange. This exchange will focus on listing and trading tokenized securities. In December, they received approval from the German regulator BaFin, which is a significant achievement.

Tokenization is becoming increasingly popular. It involves turning real-world assets like stocks and bonds into tokens on a blockchain. Traditional financial institutions are showing more interest in this area.

With regulatory approval from key financial centers, companies like 21X can confidently partner with traditional finance firms. This helps advance their tokenization efforts and opens up new opportunities.