21X, a pioneer in regulated on-chain trading, expands into the U.S.

with plans to launch a fully compliant blockchain platform, leveraging recent regulatory reforms and innovative technology to transform digital securities trading.

21X, a pioneer in regulated on-chain trading and settlement, is now making significant strides into the U.S. market. The company is establishing operations in Delaware and opening a primary office in New York, marking a pivotal chapter in its global expansion. The objective is to introduce a fully regulated blockchain-based trading platform for digital financial instruments within the world’s largest capital market.

This move follows productive engagements with U.S. regulators, including discussions with the U.S. Crypto Taskforce and the Securities and Exchange Commission (SEC). During these talks, 21X shared its vision of a new era for capital markets—one that emphasizes speed, efficiency, and transparency through blockchain technology. Their platform promises to reduce friction by enabling atomic, peer-to-peer settlement, thereby removing the need for traditional intermediaries, which streamlines workflows and cuts costs. Additionally, all transactions on the platform will be recorded on a public permissionless blockchain, enhancing transparency, auditability, and trust among market participants. The system is designed to be inclusive, providing direct market access to a broad spectrum of users, including institutional investors and corporate clients. It will support diverse assets such as tokenized stocks, bonds, private equity, real estate, and funds, opening up previously illiquid or inaccessible investment opportunities.

Building on the success of its European operations, launched in early September 2025 after obtaining a DLT TSS license under the EU’s DLT Pilot Regime, 21X plans to bring similar innovative solutions to the U.S. The European platform operates under the oversight of BaFin, Bundesbank, and ESMA. Notably, it is the first to run both matching and settlement entirely on-chain, leveraging the Polygon Proof-of-Stake network, and conducting atomic Delivery versus Payment (DvP). This fully on-chain matching capability demonstrates the viability of blockchain for capital markets, setting a benchmark for efficiency and regulatory compliance.

The timing of this expansion aligns with the evolving regulatory landscape in the U.S. — notably after SEC Chair Paul Atkins announced a comprehensive overhaul of capital markets regulations on July 31, 2025. This initiative aims to better accommodate cryptocurrencies and blockchain-based trading by clarifying security classifications, introducing new disclosure requirements, and fostering pathways for firms to launch tokenized securities. Such reforms could significantly facilitate the integration of blockchain into mainstream U.S. finance, providing a more conducive environment for 21X’s offerings.

Furthermore, 21X is expanding its multichain capabilities by integrating the Stellar network, enabling issuers and investors to benefit from Stellar’s liquidity, security, and scalability features. Both Stellar and 21X are accessible via Fireblocks infrastructure, simplifying institutional participation and creating robust, regulated markets for securities and stablecoins.

Max J. Heinzle, CEO and Founder of 21X, expressed enthusiasm about the company’s U.S. plans. He highlighted that their European success forms a strong foundation for bringing these benefits to larger markets. The company intends to soon submit its registration application to the SEC and will announce further details regarding the timeline for U.S. launch in due course.

Overall, this strategic move not only positions 21X as a global leader in regulated blockchain exchanges but also demonstrates how regulatory advancements and technological innovation are converging to reshape capital markets. By leveraging proven infrastructure and aligning with evolving regulations, 21X aims to make trading more efficient, transparent, and accessible — potentially transforming the landscape of digital finance in the U.S. and beyond.

Source: Noah Wire Services

Verification / Sources

  • https://www.marketsmedia.com/21x-to-establish-u-s-operations/ - Please view link - unable to able to access data
  • https://www.marketsmedia.com/21x-to-establish-u-s-operations/ - 21X, a leader in regulated on-chain trading and settlement, has announced its expansion into the United States with the establishment of a new operation incorporated in Delaware and a primary office in New York. This move marks a significant step in the company's global growth strategy and paves the way for the launch of the 21X U.S. exchange, a fully regulated blockchain-based trading venue for digital financial instruments. The expansion follows successful meetings with key U.S. regulators, including the U.S. Crypto Taskforce and the Securities and Exchange Commission (SEC), where 21X presented its vision for a new era of capital markets built on blockchain technology. The U.S. exchange is designed to offer reduced friction through atomic, peer-to-peer settlement, enhanced transparency with all transactions recorded on a public permissionless blockchain, and democratized access to a wide range of participants, from institutional investors to corporate clients. The platform aims to facilitate the trading of diverse financial instruments, including tokenized stocks, bonds, private equity, real estate, and funds, unlocking new liquidity and investment opportunities. Max J. Heinzle, Founder and CEO of 21X, expressed excitement about bringing the benefits of on-chain trading to the U.S. market, building on the success of their European exchange launched in early September 2025 after securing its DLT TSS license. 21X plans to submit its application for registration to the SEC and will provide further information about the timeline for the U.S. launch in due course.
  • https://financefeeds.com/21x-extends-regulated-tokenized-markets-to-stellar-in-multichain-expansion/ - 21X has extended its regulated tokenized markets to the Stellar network, making it the second public blockchain available to participants on 21X. This integration brings issuers and investors speed, scale, and security, with Stellar serving as the network for liquid, compliant tokenized markets. Both the Stellar network and 21X are accessible via the Fireblocks infrastructure, allowing institutions to connect to this new regulated market through their existing workflows. The collaboration aims to provide a robust infrastructure aligned with regulatory standards, applicable for securities and stablecoins on 21X. The mature Stellar ecosystem, with an established base of issuers, tokenized assets, and regulated stablecoins, offers a strong foundation for a liquid and active market. For institutions looking to tokenize and trade financial instruments, this partnership creates a powerful new opportunity.
  • https://www.ctol.digital/news/21x-first-regulated-blockchain-exchange-real-time-securities-trading-europe/ - 21X has become the first EU-authorized DLT Trading & Settlement System to run both matching and settlement on-chain (Polygon PoS) with whitelisted wallets under BaFin/ESMA oversight. This achievement proves the regulatory and tech stack viability for tokenized securities with atomic Delivery versus Payment (DvP) and stablecoin cash-leg. Unlike previous models, such as SIX SDX, which had DLT Central Securities Depositories (CSD) with atomic settlement but used conventional off-chain matching, 21X's claim as 'first' is based on fully on-chain matching. As of May 2025, ESMA lists three authorized EU DLT infrastructures: CSD Prague, 21X, and 360X. Axiology received a DLT-TSS license in July 2025. This development signifies a significant advancement in integrating blockchain technology into European capital markets, enhancing efficiency and transparency in securities trading and settlement.
  • https://www.globenewswire.com/news-release/2025/09/08/3146315/0/en/21X-rings-the-bell-as-trading-starts-on-the-world-s-first-blockchain-based-exchange-for-tokenized-securities-and-stablecoins.html - 21X has launched its exchange for tokenized cash and securities, marking the world's first exchange to enable smart contract-based matching and settlement. The platform is under the oversight of BaFin, Bundesbank, and ESMA, setting a new global benchmark for capital markets. With backing from industry players such as Chainlink, Circle, Polygon, and SBI Digital Markets, 21X has developed a more efficient and accessible financial market infrastructure powered by blockchain technology. The platform ensures trading activities uphold the same standards of security, compliance, and transparency known from traditional financial systems while setting a new benchmark for trust, efficiency, and interoperability in digital finance. Currently operating weekdays from 8 am to 5 pm CET, 21X plans to expand to 24/7 trading to meet the needs of a global industry.
  • https://www.dehfi.com/articles/21x-secures-historic-eu-license-to-launch-the-first-fully-regulated-blockchain-based-trading-venue - 21X has secured a historic EU license to launch the first fully regulated blockchain-based trading venue. Granted by BaFin, Germany's financial supervisory authority, this license marks a milestone moment for tokenized capital markets globally. 21X, now regulated as a financial institution following the award of this license, plans to launch its exchange for tokenized financial instruments from its Frankfurt headquarters in the first quarter of 2025. The license was issued under the EU’s DLT Pilot Regime (DLTR), a forward-thinking regulatory framework designed to enable the testing and operation of distributed ledger technology-based trading and settlement systems (DLT TSS). This development signifies a significant advancement in integrating blockchain technology into European capital markets, enhancing efficiency and transparency in securities trading and settlement.
  • https://www.reuters.com/sustainability/boards-policy-regulation/us-securities-regulator-lays-out-sweeping-plans-accommodate-crypto-2025-07-31/ - On July 31, 2025, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins announced a major overhaul of capital markets regulations to better accommodate cryptocurrencies and blockchain-based trading. This initiative includes crafting clear guidelines to determine when a crypto token is classified as a security, along with new disclosure requirements and regulatory exemptions. Atkins also called on SEC staff to assist firms in launching tokenized securities—blockchain-based versions of stocks and funds. This approach marks a significant shift from previous regulatory stances, aiming to integrate cryptocurrency more deeply with traditional finance in the U.S. If implemented, the proposed regulatory shift could profoundly impact the adoption and integration of blockchain technology in U.S. capital markets.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 10

Notes: The narrative is a recent press release dated October 3, 2025, announcing 21X's expansion into the U.S. market. No earlier publications of this specific content were found. The press release format typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were identified. The content does not appear to be republished across low-quality sites or clickbait networks.

Quotes check

Score: 10

Notes: The direct quote from Max J. Heinzle, CEO of 21X, appears to be original, with no earlier usage found online. The wording matches the press release exactly, indicating no variations or reuse.

Source reliability

Score: 8

Notes: The narrative originates from Markets Media, a digital publisher covering trading and technology in capital markets. While Markets Media is a known entity, it is not as widely recognized as major outlets like the Financial Times or Reuters. The press release format suggests a direct communication from 21X, which typically warrants a high reliability score.

Plausability check

Score: 9

Notes: The claims about 21X's expansion into the U.S. market and its plans for a blockchain-based exchange align with the company's previous activities and the evolving regulatory landscape in the U.S. The narrative includes specific details such as the establishment of operations in Delaware and a primary office in New York, discussions with U.S. regulators, and plans to submit a registration application to the SEC. No inconsistencies or implausible elements were identified.

Overall assessment

Veredict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary: The narrative is a recent and original press release from 21X, detailing its expansion into the U.S. market. The content is fresh, with no evidence of recycled material or discrepancies. The quotes are original, and the source, Markets Media, is a known publisher in the financial sector. The claims made are plausible and consistent with 21X's previous activities and the current regulatory environment.