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By Ian Allison|Edited by Oliver Knight
Updated Jun 2, 2025, 2:19 p.m. Published Jun 2, 2025, 2:11 p.m.
- Frankfurt-based 21X has integrated Circle’s USDC as a key settlement currency on the platform.
- The integration is part of 21X’s mission to build a multi-currency, MiCA-aligned, open market environment for institutional trading of tokenized securities.
Frankfurt-based 21X, a venue for trading tokenized stocks, bonds and funds regulated by Germany’s financial watchdog BaFin, has integrated Circle’s USDC stablecoin as a key settlement currency on the platform.
The USDC integration is part of 21X’s mission to build a multi-currency, MiCA-aligned, open market environment for institutional trading of tokenized securities, the company said on Monday.
STORY CONTINUES BELOW
Tokenization is where traditional finance dips its toe into the public cryptocurrency arena. Circle, which is soon to list on the New York Stock Exchange, is the obvious choice when it comes to an issuer of stablecoins for a highly regulated European utility like 21X.
With USDC available on 21X’s market infrastructure, users will benefit from wallet-based, atomic settlement of a diverse range of tokenized instruments, including equities, bonds, and fund instruments – all denominated in USD, 21X said in a press release.
“Circle is deeply committed to supporting regulated infrastructure that fosters trust and transparency in digital asset markets,” said Sanja Kon, vice president for Europe at Circle. “Making USDC available to settle tokenized securities on 21X – Europe‘s first DLT exchange – will drive the adoption of on-chain finance, and foster more efficient and accessible capital markets.”
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
