German digital financial market infrastructure 21X has opened its primary market phase with the listing of its first product, the US Money-Black Manta USD Short Term Yield (USMO). In a press release, the firms states that the move will enable professional investors to “invest in tokenised securities using stablecoins as a means of payment directly from their wallets”.
USMO will be available for subscription and redemption through 21X. The product is a tokenised note on the Ireland-registered UBS (IrL) Money Market Fund issued by Black Manta Capital in collaboration with SBI Digital Markets (SBI DM).
Black Manta Capital Partners, a regulated broker under the Markets in Financial Instruments Directive (MiFID), will be responsible for securitisation and issuance of the tokenised securities. SBI DM, based in Singapore, will handle the tokenisation and distribution of the tokenised note.
21X founder and CEO Max Heinzle has revealed that the firm intends to list a bigger range of assets, including tokenised funds and debt instruments, for professional and institutional customers.
