21X Group Joins Forces with Circle on Arc Ecosystem
21X Group has joined forces with Circle to explore the use of Arc for tokenized securities on their trading and settlement systems. As part of this collaboration, 21X Group's subsidiary 21X AG will utilize Arc as a network for the issuance, trading, and settlement of tokenized securities in the EU and US. This move comes ahead of the Arc mainnet launch, which is expected to bring significant benefits to financial markets.
The partnership between 21X Group and Circle aims to build use cases for issuers and brokers of tokenized securities on Arc across EU and US markets. To achieve this goal, they will be leveraging Circle's infrastructure, including the stablecoin USDC, which is used as gas on the Arc network. The collaboration has already seen successful testing of trading tokenized securities on Arc through 21X AG's EU capital market infrastructure.
Max Heinzle, Founder and CEO of 21X Group, stated that Arc is 'purpose-built for financial applications' and offers a natural environment for stablecoins and tokenized securities operations. Ray Tierney, CEO of 21X LLC, added that the US is the world's largest capital market and will be central to the next phase of tokenization.