21X LLC Seeks Regulatory Approval as US Broker-Dealer in Tokenized Securities
21X LLC has applied for regulatory approval to operate as a US broker-dealer in tokenized securities trading. The move marks the company's first expansion outside of Europe, where its parent firm, 21X Group, operates the first fully regulated trading and settlement system for tokenized securities.
The new entity will be led by Ray Tierney, a veteran of capital markets who has been appointed as CEO of 21X LLC. He stated that 'the US' embrace of tokenization has only just begun, and with it the significant infrastructure shift, which makes this an exceptional time to launch a blockchain market infrastructure in the US.'
Tierney added that the infrastructure decisions being made now will determine which firms have a seat at the table as tokenized capital markets mature. Max Heinzle, Founder and CEO of 21X Group, said: 'Our ambition has always been global,' citing recent regulatory advances in the US as what led 21X Group to enter this dynamic market.
21X LLC is not yet a registered broker-dealer under the U.S. Securities Exchange Act of 1934, but it aims to operate an alternative trading system (ATS) offering subscribers the ability to trade tokenized securities.