21X has obtained approval from Germany's BaFin and plans to launch a tokenized financial instruments exchange in the first quarter of next year

ChainCatcher news, according to CoinDesk, the tokenized asset exchange 21X running on Polygon has received approval from the German financial regulator BaFin to go live, planning to launch a tokenized financial instruments exchange at its headquarters in the first quarter of 2025. The exchange plans to trade tokenized equities, debt securities, funds, and real-world assets (RWA), such as real estate or artworks that qualify as financial instruments.

It is reported that, in addition to BaFin, the Deutsche Bundesbank, the European Securities and Markets Authority (ESMA), and the European Central Bank (ECB) were also involved in the approval of 21X.