21X 獲得具有里程碑意義的許可證，可根據歐盟規則運作基於區塊鏈的交易和結算系統

總部位於德國的金融機構 21X 已獲得根據現行歐盟 (EU) 規則運作基於區塊鏈的交易和結算系統的許可。

21X, Germany, EU DLT Pilot Regime, Tokenized Securities, Digital Securities, MGA, Milano Global Advisors, Italy, Consob, Fintech Decree, BlockInvest, MGA Digital Securities Registry

21X、德國、歐盟 DLT 試點制度、代幣化證券、數位證券、MGA、Milano Global Advisors、義大利、Consob、金融科技法令、BlockInvest、MGA 數位證券登記處

21X, a Germany-based financial institution, has been granted a license to operate a blockchain-based trading and settlement system under extant European Union (EU) rules.

總部位於德國的金融機構 21X 已獲得根據現行歐盟 (EU) 規則運作基於區塊鏈的交易和結算系統的許可證。

The company announced it had received full approval from Germany’s leading financial authority, BaFin, after 18 months of regulatory scrutiny. The license issuance is the first of its kind and will see 21X wade into tokenized securities as a major service provider in the region.

該公司宣布，經過 18 個月的監管審查，已獲得德國領先金融機構 BaFin 的完全批准。此次牌照的發放尚屬首次，21X 將作為該地區的主要服務提供者進軍代幣化證券領域。

The license complies with the legal framework provided by the EU’s DLT Pilot Regime, a rulebook establishing the guidelines for new financial market infrastructures revolving around blockchain. Launching in 2025, the German-based 21X is the first firm to clinch an operational license under its parameters, collaborating with the European Central Bank (ECB) and the European Securities and Markets Authority (ESMA).

該許可證符合歐盟 DLT 試點制度提供的法律框架，該制度是一份規則手冊，為圍繞區塊鏈的新金融市場基礎設施​​制定了指導方針。總部位於德國的 21X 於 2025 年成立，是第一家根據其參數與歐洲中央銀行 (ECB) 和歐洲證券和市場管理局 (ESMA) 合作獲得營運許可證的公司。

21X says it will roll out a trading platform for tokenized financial instruments with a commercial rollout earmarked for Q1 of 2025. Designed for institutional and retail traders, the incoming platform will rely on a public blockchain rather than a close-ended one in compliance with the EU’s regulatory playbook.

21X 表示，它將推出一個代幣化金融工具交易平台，並計劃於2025 年第一季進行商業推廣。的封閉式區塊鏈。

The exchange will support trading tokenized securities, debt securities, tokenized real-world assets (RWA), and equities. Heinzle confirmed that the platform will provide custodial services for users and support the issuance and distribution of tokenized securities following the blockchain regime.

該交易所將支持代幣化證券、債務證券、代幣化現實世界資產（RWA）和股票的交易。 Heinzle 確認，該平台將為用戶提供託管服務，並支援按照區塊鏈制度發行和分發代幣化證券。

“This is more than just a license – it’s a revolutionary moment for capital markets,” said 21X CEO Max Heinzle. “For the first time ever institutional and retail investors can trade and settle tokenized securities on a fully regulated, blockchain-based exchange with the same level of trust, security and compliance as traditional markets.”

「這不僅僅是一個許可證——這對資本市場來說是一個革命性的時刻，」21X 執行長 Max Heinzle 說。 「機構和散戶投資者有史以來第一次可以在完全監管的、基於區塊鏈的交易所上交易和結算代幣化證券，並具有與傳統市場相同水平的信任、安全性和合規性。 」

For technical support, 21X is leaning on Polygon and its AggLayer ecosystem for public blockchain solutions while turning to Apex Group and SBI Digital Markets for additional support.

在技​​術支援方面，21X 依靠 Polygon 及其 AggLayer 生態系統來提供公共區塊鏈解決方案，同時向 Apex Group 和 SBI Digital Markets 尋求額外支援。

The rise and rise of tokenized securities

代幣化證券的崛起

The concept of tokenized securities is gathering significant steam in financial circles, with several reports touting their benefits over traditional offerings. Research by Tren Finance predicts that tokenized real-world assets can reach a market capitalization of $30 trillion before the end of the decade, buoyed by massive institutional adoption.

代幣化證券的概念在金融界正在累積巨大的力量，有幾份報告宣揚其相對於傳統產品的優勢。 Tren Finance 的研究預測，在機構大規模採用的推動下，代幣化現實世界資產的市值將在本世紀末達到 30 兆美元。

Several players in Southeast Asia have begun tinkering with the concept, adopting a cautious approach to prevent upsetting the balance of the ecosystem. In Europe, the pacing has a frenetic undertone, with the Bank of France urging regulators to include tokenization functionalities in the scramble for central bank digital currencies (CBDCs).

東南亞的一些參與者已經開始修改這個概念，採取謹慎的態度，以防止破壞生態系統的平衡。在歐洲，這種節奏具有瘋狂的基調，法國央行敦促監管機構在央行數位貨幣（CBDC）的競爭中納入代幣化功能。

BlockInvest partner MGA can now operate as digital security registry in Italy

BlockInvest 合作夥伴 MGA 現在可以在義大利作為數位安全註冊機構運營

As the EU DLT Pilot Regime gathers steam, Italian-based firm Milano Global Advisors (MGA) has been licensed by Italian authorities to operate as a digital securities registry.

隨著歐盟 DLT 試點制度的發展，義大利公司 Milano Global Advisors (MGA) 已獲得義大利當局許可，可以作為數位證券登記機構運作。

The approval comes on the heels of intense regulatory back and forth between MGA and Italian financial watchdogs as the country seeks to embrace sweeping changes across Europe. Per the report, MGA becomes the third firm in Italy to receive approval in a framework resembling Germany’s Electronic Securities law (eWpG).

此次批准是在 MGA 和義大利金融監管機構之間進行嚴格監管之後出台的，因為該國尋求擁抱整個歐洲的徹底變革。根據該報告，MGA 成為義大利第三家獲得類似德國電子證券法 (eWpG) 框架批准的公司。

Italy’s Fintech Decree, rolled out in 2023, ratifies the EU’s DLT Framework and supports the issuance of digital securities without the need for a central securities depository (CSD). Akin to the EU’s framework, the Fintech Decree endorses the use of blockchain for the immutable and transparent storage of shareholders’ information.

義大利於 2023 年推出的金融科技法令批准了歐盟的 DLT 框架，並支持無需中央證券存管機構 (CSD) 即可發行數位證券。與歐盟的框架類似，金融科技法令支持使用區塊鏈來不可變且透明地儲存股東資訊。

The country’s financial markets authority, CONSOB, is responsible for issuing the licenses but tailors the region rulebook to meet local demands. Italy’s playbook differs from the EU DLT Pilot Regime by adopting relaxed rules for approvals, giving the green light to securities that may not fit within the EU’s rules.

該國的金融市場管理局 CONSOB 負責頒發許可證，但會根據當地需求客製化區域規則手冊。義大利的做法與歐盟 DLT 試點制度不同，義大利採用寬鬆的審批規則，為可能不符合歐盟規則的證券開綠燈。

MGA CEO Cesare Suglia disclosed that the firm can operate a platform for the issuance and trading of digital securities in Italy. MGM will be able to proceed with the management and registration of digital securities while maintaining a blockchain-based register.

MGA執行長Cesare Suglia透露，該公司可以在義大利經營一個數位證券發行和交易平台。米高梅將能夠繼續管理和註冊數位證券，同時維護基於區塊鏈的登記冊。

“The registration in the list of Registrars for Digital Securities by Consob represents not only a recognition of our professionalism but also a springboard towards new opportunities in the field of financial digitalization,” said Suglia.

Suglia 表示：“Consob 在數位證券註冊商名單中的註冊不僅代表了對我們專業精神的認可，也是邁向金融數位化領域新機遇的跳板。”

Other ancillary services include custodial functionalities and transaction facilitation, with Suglia noting that the license will give the firm broader market access.

其他輔助服務包括託管功能和交易便利化，蘇利亞指出，該許可證將為該公司提供更廣泛的市場准入。

MGA will lean on BlockInvest as its tokenization technology partner, leveraging its extensive links with Credit Agricole Italia for additional backing.

MGA 將依靠 BlockInvest 作為其代幣化技術合作夥伴，利用其與義大利農業信貸銀行的廣泛聯繫來獲得額外支持。

Turning to blockchain for the issuance of securities offers a slew of benefits for financial institutions beyond traditional systems. Financial firms can see the potential cost and time-saving benefits of blockchain-based issuances in capital market operations.

轉向區塊鏈來發行證券為金融機構提供了傳統系統之外的一系列好處。金融公司可以看到基於區塊鏈的發行在資本市場營運中潛在的成本和節省時間的好處。

While eliminating third parties

在消除第三方的同時