21X – which will be the first Distribution Ledger Technology (DLT) exchange for European Securities Market Authority (ESMA)-regulated trading and settlement of tokenized securities - and Apex Group - the global provider of financial services – today announced a ground-breaking strategic partnership that will allow Apex Group’s customers to list tokenized securities on the first-of-its-kind exchange, 21X.
21X will be the European exchange of choice for Apex Group for the listing of its clients’ tokenized securities. As a globally leading financial service provider Apex Group is currently servicing over $3 trillion of assets. With its pioneering role as an institutional digital asset service provider, the company has brought its fund operations, transfer agency and custody services, amongst others, to blockchain. As asset manager and investor demand for DLT-based investment products increases, tokenized assets will form an increasingly important part of Apex Group’s business.
The partnership between 21X and Apex Group marks a major step forward in the development of the tokenized securities market. By combining their strengths, the two companies are poised to become a leading force in this rapidly growing industry and will offer a comprehensive end-to-end service offering for asset managers, financial institutions, brokers, and distributors wishing to list tokenized securities on 21X’s DLT market.
21X is in the final stages of securing its license to operate the first and, to date, only, truly DLT-enabled exchange and settlement system to be regulated by the ESMA.
Details of the first funds to be listed on 21X will be announced in the coming days.
Max J. Heinzle, founder and CEO of 21X, said: “We are thrilled to partner with Apex Group, a global leader in financial services. This announcement is a major milestone on our path to launching the first fully regulated DLT-based exchange and settlement system. As a major digital asset service provider, Apex Group’s dedication to list tokenized securities on 21X is also a historic step for capital markets globally.”
He added: “Apex Group has long stated its desire to be at the forefront of the move from TradFi to DeFi markets and together we can accelerate the adoption of tokenized securities and create a more efficient, automated and cost-effective capital market."
Peter Hughes, founder and CEO of Apex Group, stated: "In the dynamic landscape of fund management, staying ahead of the curve is crucial for success and asset tokenisation holds tremendous potential for transforming the fund administration and management landscape. Our partnership with 21X fits perfectly with our strategy of expanding our tokenized asset capabilities.”
Bruce Jackson, Chief of Digital Asset Funds and Business at Apex Group added: “21X is a true visionary and pioneer as they identified early the opportunity to develop a DLT-enabled capital market infrastructure that will shortly secure its license from ESMA. We are excited to be witnessing strong client demand, and we will be listing Apex funds as soon as 21X opens for business.”