ABN AMRO Completes Stablecoin Trading Pilot with 21X

ABN AMRO, the third-largest bank in the Netherlands, has successfully completed a pilot program for on-chain trading with stablecoins in collaboration with German exchange 21X. The trial, which concluded on January 30, 2025, involved listing a tokenized asset on 21X's on-chain market and using stablecoins for settlement.

During the pilot, ABN AMRO issued an ERC-3643 token on the Polygon Amoy Testnet, while 21X paired it with an ERC-20-based "E-Money Token." Max Heinzle, chief executive of 21X, praised the role of blockchain in reducing costs and increasing efficiency in the on-chain system. He also mentioned that the exchange is currently onboarding institutional participants as part of its launch preparations.

ABN AMRO has a history of involvement in digital assets, including the issuance of tokenized green bonds. Following the successful pilot, the bank is now expanding its scope to include secondary market capabilities through cooperation with the European DLT trading and settlement system.

21X, which secured an EU-regulated trading license in December 2024, plans to launch its exchange in the near future, although the exact timing remains uncertain. Germany has also been making strides in asset tokenization, with the country's central bank joining Singapore's Project Guardian in November 2024. This initiative focuses on digital asset standardization and interoperability.