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A regulated stablecoin linked to the euro is set to be launched soon, available for customers to buy and sell on 21X, the leading licensed European platform for tokenizing real-world assets (RWA).
21X has formed a strategic alliance with AllUnity, a European provider of regulated stablecoin solutions. This partnership will enable the issuance of a digital cash token pegged to the euro, in accordance with the Markets in Crypto-Assets (MiCA) regulation. The asset will be available for transactions on the 21X RWA platform.
AllUnity is a joint venture comprising DWS, Stream Merchants, and Galaxy Digital. The company is currently seeking approval for its electronic money institution (EMI) license from the Federal Financial Supervisory Authority of Germany (BaFin) under the German Payment Services Supervision Act (ZAG).
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Max Heinzel, CEO of 21X, stated in the press release that the introduction of the regulated stablecoin is a crucial part of the strategy to establish a reliable and accessible trading platform for tokenized assets. The availability of a regulated stablecoin aims to facilitate entry into the RWA market for European banks, brokers, and other institutional players, fostering an automated and scalable trading environment.
In early December 2024, 21X obtained the first EU license to operate a regulated trading and settlement platform for tokenized securities.
The stablecoin sector, regulated under the new European legislation (MiCA), is progressively expanding. For instance, at the end of December 2024, British FinTech company Wirex incorporated two stablecoins from VNX, denominated in euros and Swiss francs, into its digital asset platform.
The message Regulated Stablecoin for RWA Market to Be Launched in Europe first appeared on CoinsPaid Media.
