- 21X launches first live operations with a new U.S. dollar yield token listing.
- The US Money-Black Manta USD Short Term Yield (USMO) token is backed by a UBS (Ireland) money market fund with over $10 billion in total issuance.
- USMO is available for issuance and redemption through 21X, but trading is not yet enabled.
- Black Manta Capital Partners handles issuing and securitization, while SBI Digital Markets manages tokenization and distribution in Asia.
- The platform currently serves only institutional and professional investors under the EU’s DLT Pilot Regime.
21X, a Germany-based digital trading platform, began its first live operations by listing the US Money-Black Manta USD Short Term Yield (USMO) token. The USMO token, which offers yield connected to U.S. dollars, is now issued and redeemed on 21X’s venue. It is not yet available for public trading.
The USMO token is backed by the UBS (Irl) Select Money Market Fund, registered in Ireland, which has more than $10 billion in total issuance. According to 21X, Black Manta Capital Partners is the official issuer and takes care of securitization, with SBI Digital Markets in Singapore managing tokenization and handling distribution in the Asian region.
A main innovation behind the launch is the EU’s DLT Pilot Regime, which allows a single venue like 21X to manage both trading and settlement using stablecoins—a type of cryptocurrency tied to a currency like the U.S. dollar. Unlike traditional trading venues, this regulation does not require a central securities depository (CSD) and allows direct platform access. However, at this stage, only institutional and professional investors may use it.
“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,” said Max Heinzle, founder and CEO of 21X.
The company has built several partnerships ahead of its launch. These include working with ABN AMRO on trials, forming a partnership with APEX, creating a stablecoin relationship with Tether-backed Quantoz, and preparing to support a second blockchain through a tie-up with Dusk, in addition to Polygon.
At this time, 21X is focused on issuing and redeeming tokenized assets for qualified investors, with plans to expand its offerings in the future.
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