Amina, a Swiss-regulated crypto bank, has joined a blockchain-based securities settlement platform for tokenized securities operating under the European Union’s DLT pilot regime, taking another step towards integrating digital asset infrastructure with traditional capital markets.
Switzerland-based Zug announced on Monday that it has become a listing sponsor on the EU’s regulated platform 21X, making Amina the first fully regulated bank to participate in the venue.
Amina said the move will allow it to support companies issuing tokenized securities at 21X through its partnership with Tokeny, a Luxembourg-based company that provides technology to create and manage tokenized financial assets.
The collaboration aims to remove a key barrier to institutional adoption of tokenized assets by connecting regulated banks with the issuance of tokenized securities.
21X received an infrastructure license in December 2024 under the EU’s DLT pilot regime, allowing it to operate a regulated blockchain securities market in a regulatory testing environment.
“The lack of interoperability of tokenized asset platforms” was cited by Baker McKenzie in June of this year’s European Financial Services practice as one of the main obstacles to the adoption of tokenization among financial institutions. “Scale is only achieved when multiple market players interact with each other on common or interconnected platforms,” Zürich partner Yves Mauchl said on the firm’s blog.
The DLT framework introduced in 2023 will allow market operators to experiment with blockchain-based trading and settlement of financial instruments within the regulatory framework. The program is designed to help regulators assess whether the technology fits into the existing market infrastructure.
Despite early coverage, the regime has faced scrutiny from industry participants, who warn that its current restrictions could prevent it from expanding and competing with other European jurisdictions. It is not yet clear whether the participation of regulated banks like Amina will help accelerate adoption.
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Strong growth of tokenized real assets
The development comes as financial institutions increasingly invest in blockchain infrastructure for tokenized assets. In the United States, institutions including BNY, Nasdaq and S&P Global have recently supported the expansion of the Canton Network, while Europe is testing regulated blockchain trading venues such as 21X under the EU’s pilot DLT regime.
In February, eight digital asset companies regulated by the EU called on policymakers to speed up digital asset legislation, warning that the bloc was lagging behind the United States and other jurisdictions in developing tokenized financial markets.
Of course, positive developments are taking place. In September, crypto exchange Kraken launched securities trading for European users through its xStocks platform, which offers blockchain-based versions of listed stocks.
Two months later, Liechtenstein-based tokenization platform Ondo received regulatory approval to offer tokenized share trading to European investors.
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