21X, operator of an EU-regulated on-chain trading and settlement system, and DekaBank, the securities services arm of Germany’s Sparkassen-Finanzgruppe, have completed an on-chain trade on the Polygon testnet. 21X states in a press release that the successful transaction “demonstrated the technical feasibility of a joint system that leverages 21X’s blockchain-based infrastructure and DekaBank’s custody solution”.
This phase of the trial followed the recent launch of the 21X secondary market and focused on a secondary market trade of tokenised assets via smart contracts. Its goal was to prove the end-to-end functionality of the joint system created by 21X and DekaBank.
The two firms intend to extend the scope of the project. Plans are in place to make their services available to issuers and investors on 21X.
