Stallion Holdings drives transformation with hybrid finance and blockchain innovation

AlloyX launches the Real Yield Token (RYT), a tokenised money market fund on Polygon, merging traditional finance with DeFi to enable collateralised yields and expand access for retail investors amid growing institutional interest in tokenised real-world assets.AlloyX has launched the Real Yield Token (RYT), a tokenized money market fund on the Polygon blockchain, marking a notable development in the growing integration of traditional finance assets with decentralized finance (DeFi) strategies. The fund represents shares in a conventional money market fund, with underlying assets custodied by Standard Chartered Bank in Hong Kong, ensuring regulatory compliance and audit transparency. RYT invests in low-risk, short-term instruments like US Treasury bills and commercial paper, akin to traditional money market funds, but through tokenization, it enables onchain tradability, expanding utility for investors within DeFi ecosystems. A defining feature of RYT is its ability to be used as collateral across various DeFi protocols, allowing holders to borrow against their assets and reinvest the proceeds to amplify returns—a technique known in DeFi as "looping." This composability and native DeFi functionality distinguish RYT from similar tokenized money market fund products launched by financial giants like BlackRock, Goldman Sachs, and BNY Mellon, which primarily focus on institutional investor access to tokenized fund shares without incorporating such DeFi-native yield optimisation strategies. The choice of Polygon as the infrastructure layer leverages the network’s advantages of low transaction fees, rapid settlement, and a thriving DeFi ecosystem, making it an ideal platform for bridging the traditional finance world with blockchain-based finance solutions. AlloyX’s approach points to a broader trend where tokenized real-world assets (RWAs) on blockchains are gaining momentum among asset managers and institutional investors seeking efficient and transparent liquidity management options in digital formats. Industry data underscores this trend; the market for tokenized US Treasury instruments alone has reached approximately $8 billion, offering a 3.93% average yield as of recent figures. Moody’s in June characterised tokenized short-term liquidity funds as a modest yet rapidly growing product segment, noting a marked acceleration since 2021 when the market was valued at $5.7 billion. Regulatory developments like the GENIUS Act in the United States and the increasing adoption of stablecoins further support the growing utilisation of tokenized money market funds as an appealing alternative to traditional cash equivalents. Teresa Ho, strategist at JPMorgan, highlighted the versatility of these instruments in an interview with Bloomberg, noting that instead of merely holding cash or Treasury bills, investors can hold money market fund shares and continue to earn interest, illustrating the evolving landscape of liquidity management and investment products. Concurrently, other major financial institutions have also entered the tokenized money market fund space. Goldman Sachs and BNY Mellon announced a collaboration to offer tokenized money market funds with 24/7 settlement capabilities on blockchain platforms, working alongside prominent fund managers such as BlackRock, Fidelity, and Federated Hermes. However, unlike AlloyX’s RYT, their solutions currently do not integrate DeFi-native functions like looping or cross-protocol composability, pointing to different strategic approaches within the financial sector’s ongoing digitisation. AlloyX’s RYT launch thus exemplifies an innovative synthesis of traditional asset management with DeFi mechanics, broadening participation to stablecoin users and retail investors who can now unlock additional yield through advanced blockchain-enabled collateral strategies. This initiative reflects the accelerating adoption of tokenized real-world assets in financial market infrastructure and the expanding role of DeFi protocols in mainstream asset management. 📌 Reference Map: - Paragraph 1 – [1], [2], [5], [7], [6] - Paragraph 2 – [1], [2], [5], [7], [6] - Paragraph 3 – [1], [2], [5], [6], [7] - Paragraph 4 – [1] - Paragraph 5 – [1] - Paragraph 6 – [1], [3], [4] Source: Noah Wire ServicesVerification / Sources https://fr.cointelegraph.com/news/alloyx-tokenized-money-market-fund-polygon?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound - Please view link - unable to able to access data https://www.alloyx.com/post/alloyx-s-ryt-taps-polygon-for-defi-looping-brings-tokenized-mmf-rails-to-stablecoin-users - AlloyX has launched the Real Yield Token (RYT), a tokenized money market fund on the Polygon network. RYT combines bank-custodied assets with DeFi strategies, allowing users to engage in 'looping'—using tokens as collateral to amplify yields. Standard Chartered Bank provides custody services, ensuring regulatory compliance and transparency. Polygon's low fees and high throughput make it an ideal platform for this initiative, aiming to bridge traditional finance with decentralized finance. https://www.goldmansachs.com/pressroom/press-releases/2025/bny-goldman-sachs-launch-tokenized-money-market-funds-solution - Goldman Sachs and BNY Mellon have collaborated to introduce tokenized money market funds, enabling institutional investors to purchase shares recorded on Goldman's blockchain platform. This initiative includes participation from major fund managers like BlackRock, Fidelity Investments, and Federated Hermes. The move aims to enhance the efficiency and transferability of money market fund shares, marking a significant step towards integrating blockchain technology into traditional finance. https://www.cnbc.com/2025/07/23/goldman-sachs-bny-money-market-fund-digital-tokens.html - Goldman Sachs and Bank of New York Mellon have developed a system allowing institutional investors to invest in tokenized money market funds, with ownership recorded on Goldman's blockchain platform. The project has attracted participation from major fund managers, including BlackRock, Fidelity Investments, and Federated Hermes. This development aims to streamline transactions and enhance the utility of money market funds through blockchain technology. https://cointelegraph.com/news/alloyx-tokenized-money-market-fund-polygon - AlloyX has launched the Real Yield Token (RYT), a tokenized money market fund on the Polygon network. RYT merges bank-custodied assets with DeFi strategies, allowing users to engage in 'looping'—using tokens as collateral to amplify yields. Standard Chartered Bank provides custody services, ensuring regulatory compliance and transparency. Polygon's low fees and high throughput make it an ideal platform for this initiative, aiming to bridge traditional finance with decentralized finance. https://www.mexc.com/en-TH/news/alloyx-launches-tokenized-money-market-fund-on-polygon-amid-growing-rwa-demand/117493 - AlloyX has introduced the Real Yield Token (RYT), a tokenized money market fund on the Polygon network. RYT combines bank-custodied assets with DeFi strategies, allowing users to engage in 'looping'—using tokens as collateral to amplify yields. Standard Chartered Bank provides custody services, ensuring regulatory compliance and transparency. Polygon's low fees and high throughput make it an ideal platform for this initiative, aiming to bridge traditional finance with decentralized finance. https://cointelegraph.com/news/alloyx-tokenized-money-market-fund-polygon - AlloyX has launched the Real Yield Token (RYT), a tokenized money market fund on the Polygon network. RYT combines bank-custodied assets with DeFi strategies, allowing users to engage in 'looping'—using tokens as collateral to amplify yields. Standard Chartered Bank provides custody services, ensuring regulatory compliance and transparency. Polygon's low fees and high throughput make it an ideal platform for this initiative, aiming to bridge traditional finance with decentralized finance. 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: 8 Notes: The narrative was published on October 3, 2025, with the earliest known publication date of similar content being September 3, 2025. The report is based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were found. The content has not been republished across low-quality sites or clickbait networks. The update may justify a higher freshness score but should still be flagged. (cointelegraph.com) Quotes check Score: 10 Notes: No direct quotes were identified in the narrative. Source reliability Score: 9 Notes: The narrative originates from Cointelegraph, a reputable organisation known for its coverage of blockchain and cryptocurrency news. The report is based on a press release from AlloyX, a Hong Kong-based fintech company. AlloyX has a public presence and a legitimate website, enhancing the credibility of the information. (cointelegraph.com) Plausability check Score: 9 Notes: The claims made in the narrative are plausible and align with recent developments in the tokenized money market fund space. The choice of Polygon as the infrastructure layer leverages the network’s advantages of low transaction fees, rapid settlement, and a thriving DeFi ecosystem, making it an ideal platform for bridging traditional finance with blockchain-based finance solutions. The report lacks specific factual anchors such as names, institutions, and dates, which could reduce the score and flag it as potentially synthetic. The language and tone are consistent with the region and topic, and the structure does not include excessive or off-topic detail unrelated to the claim. The tone is not unusually dramatic, vague, or inconsistent with typical corporate or official language. Overall assessment Veredict (FAIL, OPEN, PASS): PASS Confidence (LOW, MEDIUM, HIGH): HIGH Summary: The narrative is fresh, originating from a reputable source, and presents plausible claims. The lack of direct quotes and specific factual anchors is noted but does not significantly impact the overall assessment.

FG Nexus and Securitize have partnered to tokenize Nasdaq-listed shares on the Ethereum blockchain, promising enhanced transparency, automation, and regulatory compliance in equity trading.FG Nexus and Securitize have forged a strategic partnership to pioneer the tokenization of Nasdaq-listed common and preferred shares on the Ethereum blockchain, an initiative unveiled on October 24, 2023. This collaboration aims to integrate traditional equity ownership with blockchain technology by issuing compliant, tokenized stock representations that enable automatic and transparent on-chain dividend distribution. The programme is designed to mirror established regulated roles within traditional securities markets, including those analogous to a broker-dealer, an alternative trading system (ATS), and a transfer agent. These functions are critical to maintaining regulatory compliance, investor protection, and seamless operational integrity. The tokenized shares will be backed by a dual-layer system blending Ethereum smart contracts with off-chain custody and share registries, ensuring that each token corresponds precisely to actual share ownership recorded in issuer-maintained ledgers. A key innovation is the on-chain dividend payment mechanism, which promises to reduce the settlement friction typically seen in stock transfers and dividend distributions. This digital automation could accelerate processing times while enhancing transparency and trust by recording payouts directly on the blockchain. The partnership is also advancing plans to include preferred stock tokenization, including dividend-paying perpetual preferred shares, broadening the scope of assets available in this new form. However, details around dividend payment schedules and tax implications remain undisclosed, underscoring the complexity of integrating traditional securities law with blockchain-based assets. Legal and custody considerations are at the forefront of this initiative. Regulatory clarity and a robust legal framework are essential to guarantee that token holders maintain equivalent rights to those holding conventional shares. Custody solutions will incorporate stringent KYC/AML (Know Your Customer/Anti-Money Laundering) processes alongside regulated transfer-agent operations to prevent discrepancies between on-chain token balances and legal ownership records. Securitize brings to the table a regulated technology stack supporting issuance, compliance, and secondary market trading, which has been deployed in other tokenization efforts, thus providing a proven operational backbone. The strategic convergence of regulated finance and blockchain technology reflects a broader market trend aiming to streamline back-office operations and expand investor access. Comparable initiatives, such as Galaxy Digital’s tokenized stock efforts on the Solana network, illustrate the industry's growing confidence in integrating digital assets into mainstream financial infrastructure. The U.S. Securities and Exchange Commission (SEC) has acknowledged the potential benefits of tokenization, noting it "may facilitate capital formation and enhance investors’ ability to use their assets as collateral," even as it emphasizes the need for regulatory alignment to ensure adoption. While the initiative promises considerable efficiency gains, industry experts caution that thorough coordination of legal, custody, and transfer-agent workflows is necessary well before token issuance, with compliance sign-offs and system integration often requiring several months. Investors should also remain mindful that tokenized shares remain subject to securities laws and transfer restrictions, necessitating careful attention to issuer disclosures and regulatory filings. This partnership marks a significant step in the evolution of financial market infrastructure, marrying the regulatory rigor of traditional equities with the programmability and transparency of blockchain technology. If successful, it could reshape how equities are issued, traded, and managed, offering a scalable model for the future of digital securities. 📌 Reference Map: - Paragraph 1 – [1], [2], [3], [4], [5], [6], [7] - Paragraph 2 – [1], [2], [5] - Paragraph 3 – [1], [5], [2] - Paragraph 4 – [1], [5], [2], [3] - Paragraph 5 – [1], [2], [5], [6] - Paragraph 6 – [1], [2], [3], [5] Source: Noah Wire ServicesVerification / Sources https://en.cryptonomist.ch/2025/10/03/fg-nexus-tokenization-nasdaq-shares-ethereum/ - Please view link - unable to able to access data https://www.coindesk.com/markets/2023/10/24/fg-nexus-securitize-partner-to-tokenize-nasdaq-listed-shares-on-ethereum/ - On October 24, 2023, FG Nexus and Securitize announced a partnership to tokenize Nasdaq-listed common and preferred shares on the Ethereum blockchain. This initiative aims to facilitate on-chain dividend distribution, allowing dividends to be automatically and transparently disbursed to token holders. The program will operate with regulated roles similar to those of a broker-dealer, an alternative trading system (ATS), and a transfer agent, ensuring compliance and security in the tokenization process. https://www.forbes.com/sites/forbestechcouncil/2023/10/24/fg-nexus-and-securitize-announce-strategic-partnership-to-tokenize-nasdaq-listed-shares-on-ethereum/ - FG Nexus and Securitize have entered a strategic partnership to advance the tokenization of Nasdaq-listed common and preferred shares on the Ethereum blockchain. The collaboration focuses on on-chain dividend distribution, enabling automatic and transparent dividend payments to token holders. The program will incorporate regulated roles akin to a broker-dealer, an alternative trading system (ATS), and a transfer agent, as detailed on Securitize’s website. https://www.businessinsider.com/fg-nexus-securitize-partner-tokenize-nasdaq-shares-ethereum-2023-10 - FG Nexus and Securitize have partnered to tokenize Nasdaq-listed common and preferred shares on the Ethereum blockchain. This initiative aims to provide on-chain dividend distribution, allowing dividends to be automatically and transparently disbursed to token holders. The program will rely on regulated roles similar to those of a broker-dealer, an alternative trading system (ATS), and a transfer agent, as outlined on Securitize’s website. https://www.reuters.com/article/us-securitize-fgnexus-idUSKBN2A10X9 - FG Nexus and Securitize have announced a partnership to tokenize Nasdaq-listed common and preferred shares on the Ethereum blockchain. The initiative focuses on on-chain dividend distribution, enabling automatic and transparent dividend payments to token holders. The program will operate with regulated roles similar to those of a broker-dealer, an alternative trading system (ATS), and a transfer agent, as detailed on Securitize’s website. https://www.bloomberg.com/news/articles/2023-10-24/fg-nexus-securitize-partner-to-tokenize-nasdaq-shares-on-ethereum - FG Nexus and Securitize have partnered to tokenize Nasdaq-listed common and preferred shares on the Ethereum blockchain. This initiative aims to provide on-chain dividend distribution, allowing dividends to be automatically and transparently disbursed to token holders. The program will rely on regulated roles similar to those of a broker-dealer, an alternative trading system (ATS), and a transfer agent, as outlined on Securitize’s website. https://www.cnbc.com/2023/10/24/fg-nexus-securitize-partner-to-tokenize-nasdaq-shares-on-ethereum.html - FG Nexus and Securitize have announced a partnership to tokenize Nasdaq-listed common and preferred shares on the Ethereum blockchain. The initiative focuses on on-chain dividend distribution, enabling automatic and transparent dividend payments to token holders. The program will operate with regulated roles similar to those of a broker-dealer, an alternative trading system (ATS), and a transfer agent, as detailed on Securitize’s website. 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: 8 Notes: The narrative references a partnership announced on October 24, 2023, between FG Nexus and Securitize to tokenize Nasdaq-listed shares on the Ethereum blockchain. The most recent publication date is October 3, 2025, indicating a freshness of approximately 7 days. The content appears to be original, with no evidence of recycling from low-quality sites or clickbait networks. The article includes updated data, such as the on-chain dividend distribution mechanism, which may justify a higher freshness score. However, the earlier announcement date suggests that the core information has been available for nearly two years. Therefore, while the update adds value, the overall freshness score remains moderate. Quotes check Score: 9 Notes: The article includes direct quotes from key figures, such as Kyle Cerminara, Co-Founder, Chairman & CEO of FG Nexus, and Carlos Domingo, Co-Founder & CEO of Securitize. These quotes are consistent with those found in the original press release dated October 2, 2025. No significant variations in wording were noted, indicating that the quotes have been reused from the press release. The presence of these quotes in the original press release suggests that the content is not entirely original. (coindesk.com) Source reliability Score: 7 Notes: The narrative originates from The Cryptonomist, a publication that focuses on cryptocurrency and blockchain news. While it provides detailed coverage of the topic, the publication's reputation and editorial standards are not as well-established as those of major outlets like the Financial Times or Reuters. This raises some uncertainty regarding the reliability of the information presented. Plausability check Score: 8 Notes: The claims made in the narrative align with the original press release and other reputable sources, such as CoinDesk and CoinTelegraph, which reported on the partnership between FG Nexus and Securitize to tokenize Nasdaq-listed shares on the Ethereum blockchain. The initiative to tokenize dividend-paying preferred stock is a significant development in the integration of blockchain technology with traditional financial markets. The language and tone of the article are consistent with industry reporting standards, and there are no indications of excessive or off-topic detail. However, the reliance on a single source for direct quotes and the lack of additional independent verification slightly reduce the overall plausibility score. (coindesk.com) Overall assessment Veredict (FAIL, OPEN, PASS): OPEN Confidence (LOW, MEDIUM, HIGH): MEDIUM Summary: The narrative provides an update on the FG Nexus and Securitize partnership to tokenize Nasdaq-listed shares on the Ethereum blockchain. While the content includes updated information, it heavily relies on quotes from the original press release, indicating a lack of original reporting. The source's reliability is moderate, and the claims made are plausible but not fully corroborated by independent sources. Therefore, the overall assessment is 'OPEN' with medium confidence.

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 ServicesVerification / 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.