21X, Europe’s first regulated DLT trading and settlement system, has launched its primary market with the listing of the USMO tokenized note. Issued by Black Manta Capital and SBI Digital Markets, the token represents the UBS Money Market Fund and offers professional investors the ability to invest using stablecoins, marking a major step in digital finance.
21X, Europe’s first fully regulated Distributed Ledger Technology (DLT) trading and settlement system, has announced the launch of its primary market phase, marking a significant milestone in the financial sector. The company unveils its first product, the US Money-Black Manta USD Short Term Yield (USMO), in collaboration with Black Manta Capital Partners and SBI Digital Markets (SBI DM).
This tokenized note, issued by Black Manta Capital and supported by SBI Digital Markets, represents a major step in bridging the gap between traditional finance and the digital asset space. It is a tokenized security linked to the UBS (Irl) Money Market Fund and is now available for subscription and redemption through 21X’s regulated infrastructure. Investors can now engage in the buying and selling of this tokenized asset directly from their wallets, using stablecoins as a means of payment.
A Groundbreaking Moment in Capital Markets
The launch of the primary market for the USMO token represents a groundbreaking development in the financial markets. It offers professional investors the opportunity to invest in tokenized securities, a move that reflects the increasing convergence of blockchain technology with conventional financial systems. This new offering enables the use of stablecoins for transactions, which enhances accessibility and liquidity for a wide range of institutional investors.
Max Heinzle, founder and CEO of 21X, commented: “We are proud to see the primary market open for the first product on 21X. Together with our partners Black Manta Capital and SBI DM, we have planned to list a range of tokenized assets, offering tokenized funds and debt instruments to our professional and institutional customer base.”
Black Manta Capital and SBI Digital Markets
In the collaboration, Black Manta Capital is responsible for the securitization and issuance of the USMO tokenized securities, while SBI Digital Markets plays a crucial role in ensuring secure and efficient tokenization, as well as the distribution of the asset. This joint effort represents the fusion of technological expertise and regulatory compliance, a partnership that paves the way for the future of tokenized securities.
Alexander Rapatz, CEO of Black Manta Capital, stated: “The listing of the USMO token jointly with SBI Digital Markets on 21X is a significant milestone and pivotal moment in the annals of capital markets. We are delighted to announce the immediate availability of the USMO Token for subscription on the 21X platform.”
Winston Quek, CEO of SBI Digital Markets, added: “We are proud to drive innovation at the intersection of traditional finance and digital assets by leveraging SBI Digital Markets’ tokenization technology. Through our collaboration with 21X and Black Manta, we can connect secure European-regulated infrastructure with Asian capital markets, unlocking new efficiencies and expanding our global distribution network.”
Tokenization of Real-World Assets
The opening of the primary market for the USMO token reflects a broader trend in the financial industry: the tokenization of real-world assets (RWAs), including tokenized money market funds. This growing momentum is driven by the demand for short-term yield products and the increasing adoption of stablecoins, which provide a secure and efficient method for payment.
The USMO token is just the beginning, as 21X plans to expand its offerings by listing a range of tokenized assets in the near future. By providing professional investors with access to these tokenized securities, 21X is setting a new standard for innovation and compliance in the capital markets, allowing investors to engage in a regulated and secure digital investment environment.
Heinzle concluded: “By opening the primary market for USMO tokens, 21X is setting a new standard for innovation and compliance in capital markets. Professional investors, financial institutions, brokers, and treasuries now have access to the UBS Money Market Fund through an investment in the USMO token.”
About 21X
21X is a Frankfurt-based financial institution at the forefront of revolutionising capital markets through blockchain technology. In December 2024, 21X secured a licence to operate its pioneering distributed ledger technology trading and settlement system (DLT TSS), solidifying its position as a leader in the digital finance space. The company enables smart contract-based issuance, trading, and settlement of tokenized stocks, bonds, and funds.
About Black Manta Capital Partners
Black Manta Capital Partners is an investment bank focused on digital and tokenized assets, offering a fully regulated platform for issuances in the European capital market. Operating across Europe, Asia, and the Americas, the firm provides full-service support for the technical, financial, and legal aspects of asset and security tokenization on a global scale.
About SBI Digital Markets
SBI Digital Markets is a subsidiary of SBI Digital Asset Holdings, the digital asset arm of Japan’s SBI Group. With the largest securities account customer base and the second-largest trading market in Japan, SBI Group has a strong global presence across 26 countries and regions, including key markets in Asia and Europe. SBI Digital Markets offers clients a comprehensive framework for digitalisation, from origination and tokenization to distribution and custodian services for both traditional and Web 3 products.
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