21X LLC Seeks US Broker-Dealer Approval Amid Tokenization Boom

21X LLC has announced its intention to seek regulatory approval to operate as a US broker-dealer, marking the company's first expansion into the world's largest capital market. Led by Ray Tierney, a veteran of the capital markets, 21X LLC will establish an alternative trading system (ATS) that offers subscribers the ability to trade tokenized securities.

The move into the US market is seen as a key element in 21X Group's ambition to make on-chain issuance, trading, and settlement of tokenized securities the standard for how capital markets operate. Max Heinzle, Founder and CEO of 21X Group, stated: 'Our ambition has always been global. Recent regulatory advances in the US, opening the way for tokenized securities trading and stablecoin adoption, are what led 21X Group to enter this dynamic capital market.'

Ray Tierney added: '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. And the infrastructure decisions being made now will determine which firms have a seat at the table as tokenized capital markets mature.'