ABN AMRO Completes Blockchain Trading Pilot with 21X

Netherlands' third-largest bank, ABN AMRO, has successfully completed a pilot program for tokenized trading on the Ethereum blockchain. The trial, conducted in collaboration with German exchange 21X, explored on-chain settlement for tokenized securities using stablecoins.

The pilot involved listing a tokenized asset on 21X's on-chain market. ABN AMRO issued an ERC-3643 token on the Polygon Amoy Testnet, while 21X paired it with an ERC-20-based "E-Money Token," although the specific asset was not named. Max Heinzle, chief executive of 21X, praised the role of blockchain in reducing costs and increasing efficiency in the on-chain system.

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, is planning to launch its exchange, although the exact timeline 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.