21X and DekaBank Successfully Complete on-chain Trade on the Polygon Testnet

21X, the operator of the first EU-regulated on-chain trading and settlement system, and DekaBank, the securities services provider of the German Savings Banks Finance Group (Sparkassen-Finanzgruppe), today announced the successful completion of an on-chain trade on the Polygon testnet. This marks a critical step forward in their collaboration to integrate and expand tokenized asset capabilities for their clients.

The successful 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 recent 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.

“The completion of these transactions with DekaBank is a testament to our shared vision for the future of capital markets,” said Max J. Heinzle, CEO of 21X. “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.