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Two companies based in the Netherlands and Germany have completed tokenization works! Here are their areas of work.
Dutch banking giant ABN AMRO and Germany-based 21X marked a significant milestone in the adoption of blockchain technology in traditional finance by successfully conducting on-chain trading of tokenized assets against stablecoins.
ABN AMRO and 21X Complete Onchain Trading of Tokenized Assets Against Stablecoins
According to the announcement, the two companies have completed a joint proof of concept on the Polygon Amoy Testnet to issue a token, and this token is later listed as a trading pair with an e-currency token.
Companies* said 'the use of 21X's blockchain-based order book smart contract enabled trading between tokenized cash and tokenized assets with a single transaction'.
Frankfurt-based 21X, which is developing a blockchain-based exchange for tokenized securities, received approval from Germany's financial regulator BaFin in December.
This regulatory green light allows TradFi (traditional finance) firms to collaborate more confidently with blockchain-native companies like 21X.
Tokenization, which is the process of representing real-world assets such as stocks or bonds as blockchain-based tokens, has gained strong momentum in the financial sector.
With the entry of major institutions like ABN AMRO into blockchain experiments, the adoption of tokenized assets is accelerating and filling the gap between traditional finance and decentralized technology.