In a groundbreaking development for the digital asset market in Europe, the 21X exchange has emerged as the first on-chain trading venue regulated under the EU’s DLT Pilot Regime. Based in Frankfurt, this blockchain-based exchange is designed to support the trading of tokenized stocks, bonds, and funds through smart contracts, thereby eliminating counterparty and credit risks. With its official launch on September 8, 2025, 21X aims to bring traditional financial market practices into the realm of decentralized finance (DeFi).
A significant enhancement to its capabilities comes through the integration of Chainlink, a leading decentralized oracle network. This partnership enables 21X to provide real-time and verifiable market data about tokenized securities directly on the Polygon blockchain. By delivering accurate bid/ask spreads, trade volumes, and last traded prices, 21X leverages the Chainlink Runtime Environment (CRE) to enhance the security and reliability of its trading information.
Chainlink has established its reputation by securing trillions of dollars worth of transactions in the DeFi space. This partnership not only elevates 21X’s data architecture but also signals a broader commitment to creating a standardized machine-readable format for tokenized securities. This standardization is crucial for ensuring interoperability across various DeFi protocols, custodial services, and financial applications.
Max Heinzle, CEO of 21X, emphasized the transformative potential of this integration, stating, “Chainlink standard will make 21X able to bring real-time and verifiable market data of tokenized securities safely and reliably on-chain.”
The implications of this development are far-reaching, especially for conventional financial institutions that have been exploring blockchain’s potential but have remained hesitant due to regulatory challenges and infrastructure gaps. The EU’s regulatory framework and Chainlink’s robust data infrastructure create a pathway for traditional banks to tokenize and trade real-world assets in compliance with existing laws. Asset managers can also leverage DeFi while ensuring a high degree of governance and oversight.
Fernando Vazquez, President of Banking and Capital Markets at Chainlink Labs, remarked that the introduction of tokenized securities by 21X will effectively open the floodgates for institutional capital to enter the on-chain economy.
Looking ahead, Chainlink plans to further enhance its collaboration with 21X by integrating pre-trade data, expanding asset classes, and offering sophisticated analytics. This initiative is part of a broader industry movement aimed at transforming capital markets into composable, transparent, and programmable systems — capabilities that traditional systems lack.
Prominent financial institutions like Swift, Mastercard, Euroclear, and UBS are already adopting Chainlink standards in preparation for an era where tokenized assets become commonplace. This convergence of DeFi and traditional finance could redefine the landscape of capital markets, ushering in a new age of efficiency and transparency.
