21X 获得具有里程碑意义的许可证，可根据欧盟规则运营基于区块链的交易和结算系统

总部位于德国的金融机构 21X 已获得根据现行欧盟 (EU) 规则运营基于区块链的交易和结算系统的许可。

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

21X、德国、欧盟 DLT 试点制度、代币化证券、数字证券、MGA、Milano Global Advisors、意大利、Consob、金融科技法令、BlockInvest、MGA 数字证券登记处

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.

总部位于德国的金融机构 21X 已获得根据现行欧盟 (EU) 规则运营基于区块链的交易和结算系统的许可证。

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.

该公司宣布，经过 18 个月的监管审查，已获得德国领先金融机构 BaFin 的完全批准。此次牌照的发放尚属首次，21X 将作为该地区的主要服务提供商进军代币化证券领域。

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).

该许可证符合欧盟 DLT 试点制度提供的法律框架，该制度是一份规则手册，为围绕区块链的新金融市场基础设施制定了指导方针。总部位于德国的 21X 于 2025 年成立，是第一家根据其参数与欧洲中央银行 (ECB) 和欧洲证券和市场管理局 (ESMA) 合作获得运营许可证的公司。

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，它将推出一个代币化金融工具交易平台，并计划于 2025 年第一季度进行商业推广。新平台专为机构和零售交易者设计，将依赖公共区块链，而不是符合 21X 标准的封闭式区块链。欧盟的监管手册。

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.

该交易所将支持代币化证券、债务证券、代币化现实世界资产（RWA）和股票的交易。 Heinzle 确认，该平台将为用户提供托管服务，并支持按照区块链制度发行和分发代币化证券。

“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.”

“这不仅仅是一个许可证——这对资本市场来说是一个革命性的时刻，”21X 首席执行官马克斯·海因茨勒 (Max Heinzle) 说道。 “机构和散户投资者有史以来第一次可以在完全监管的、基于区块链的交易所上交易和结算代币化证券，并具有与传统市场相同水平的信任、安全性和合规性。”

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​​术支持方面，21X 依靠 Polygon 及其 AggLayer 生态系统来提供公共区块链解决方案，同时向 Apex Group 和 SBI Digital Markets 寻求额外支持。

The rise and rise of tokenized securities

代币化证券的崛起

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.

代币化证券的概念在金融界正在积聚巨大的力量，有几份报告宣扬其相对于传统产品的优势。 Tren Finance 的研究预测，在机构大规模采用的推动下，代币化现实世界资产的市值将在本世纪末达到 30 万亿美元。

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).

东南亚的一些参与者已经开始修改这个概念，采取谨慎的态度，以防止破坏生态系统的平衡。在欧洲，这种节奏具有疯狂的基调，法国央行敦促监管机构在央行数字货币（CBDC）的争夺中纳入代币化功能。

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

BlockInvest 合作伙伴 MGA 现在可以在意大利作为数字安全注册机构运营

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.

随着欧盟 DLT 试点制度的发展，意大利公司 Milano Global Advisors (MGA) 已获得意大利当局许可，可以作为数字证券登记机构运营。

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 和意大利金融监管机构之间进行严格监管之后出台的，因为该国寻求拥抱整个欧洲的彻底变革。根据该报告，MGA 成为意大利第三家获得类似德国电子证券法 (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.

意大利于 2023 年推出的金融科技法令批准了欧盟的 DLT 框架，并支持无需中央证券存管机构 (CSD) 即可发行数字证券。与欧盟的框架类似，金融科技法令支持使用区块链来不可变且透明地存储股东信息。

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.

该国的金融市场管理局 CONSOB 负责颁发许可证，但会根据当地需求定制区域规则手册。意大利的做法与欧盟 DLT 试点制度不同，意大利采用宽松的审批规则，为可能不符合欧盟规则的证券开绿灯。

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首席执行官Cesare Suglia透露，该公司可以在意大利运营一个数字证券发行和交易平台。米高梅将能够继续管理和注册数字证券，同时维护基于区块链的登记册。

“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 在数字证券注册商名单中的注册不仅代表了对我们专业精神的认可，也是迈向金融数字化领域新机遇的跳板。”

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

其他辅助服务包括托管功能和交易便利化，苏利亚指出，该许可证将为该公司提供更广泛的市场准入。

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

MGA 将依靠 BlockInvest 作为其代币化技术合作伙伴，利用其与意大利农业信贷银行的广泛联系来获得额外支持。

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.

转向区块链来发行证券为金融机构提供了传统系统之外的一系列好处。金融公司可以看到基于区块链的发行在资本市场运营中潜在的成本和节省时间的好处。

While eliminating third parties

在消除第三方的同时