Amina, a Swiss-regulated crypto bank, has joined a blockchain-based settlement platform for tokenized securities operating under the European Union’s DLT pilot regime, marking another step toward integrating digital asset infrastructure with traditional capital markets.
The Zug, Switzerland-based company announced Monday that it has become a listing sponsor on the EU-regulated platform 21X, making Amina the location’s first fully regulated banking participant.
Amina said this move will enable the company to issue tokenized securities on 21X through its partnership with Tokeny, a Luxembourg-based company that provides technology for creating and managing tokenized financial assets.
The collaboration aims to address a key barrier to the institutional adoption of tokenized assets by connecting regulated banks to the issuance and trading of tokenized securities.
21X received an infrastructure license under the EU’s DLT pilot regime in December 2024, allowing it to operate a regulated market for blockchain-based securities in a regulatory test environment.
“A lack of interoperability of tokenized asset platforms” was cited in June by Baker McKenzie’s European Financial Services practice as one of the key barriers to tokenization adoption by financial institutions. “Scale will only be achieved if numerous market players transact with each other on common or interconnected platforms,” Zurich-based partner Yves Mauchle wrote on the firm’s blog.
Introduced in 2023, the DLT framework allows market operators to experiment with blockchain-based trading and settlement of financial instruments within a regulatory sandbox. The program is intended to help regulators evaluate how the technology could fit into existing market infrastructure.
Despite early adoption, the regime has faced scrutiny from industry participants, who warn that current restrictions could prevent European onchain markets from scaling and competing with other jurisdictions. It remains unclear whether participation from regulated banks like Amina will help accelerate adoption.
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Strong growth of tokenized real-world assets
The development comes as financial institutions are increasingly investing in blockchain infrastructure for tokenized assets. In the United States, institutions such as BNY, Nasdaq and S&P Global have recently supported the expansion of the Canton Network, while Europe is testing regulated blockchain trading platforms such as 21X under the EU’s DLT pilot regime.
In February, eight EU-regulated digital asset firms urged policymakers to accelerate digital asset legislation, warning the bloc risks falling behind the United States and other jurisdictions in developing tokenized financial markets.
The total value of tokenized real-world assets has reached $26.5 billion. Source: RWA.xyz
There are certainly positive developments underway. In September, crypto exchange Kraken launched tokenized securities trading for European users through its xStocks platform, which offers blockchain-based versions of US-listed stocks.
Two months later, tokenization platform Ondo received regulatory approval in Liechtenstein to offer tokenized stock trading to European investors.
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