Regulated Stablecoin for RWA Market to Be Launched in Europe

A regulated stablecoin pegged to the euro will soon be launched, available to users for trading on 21X, the first licensed European platform for tokenizing real-world assets (RWA).

21X announced a strategic partnership with AllUnity, a European provider of regulated stablecoin solutions. As a result of the collaboration, in line with the Markets in Crypto-Assets (MiCA) regulation, an electronic money token pegged to the euro will be issued. The asset will be available for settlement on the 21X RWA platform.

AllUnity is a joint venture of DWS, Flow Traders, and Galaxy Digital. The company is currently awaiting approval for its electronic money institution (EMI) license from the Federal Financial Supervisory Authority of Germany (BaFin) under the German Payment Services Supervision Act (ZAG).

Max Heinzel, CEO of 21X, stated in the press release that the launch of the regulated stablecoin is a key component of the strategy to create a reliable and accessible trading platform for tokenized assets. The presence of a regulated stablecoin is intended to simplify entry into the RWA market for European banks, brokers, and other institutional entities, creating an automated and scalable trading environment.

In early December 2024, 21X received the first EU license to manage a regulated trading and settlement platform for tokenized securities.

The stablecoin segment, regulated under the new European legislation (MiCA), is gradually developing. For instance, at the end of December 2024, British FinTech company Wirex added two stablecoins from VNX, denominated in euros and Swiss francs, to its digital asset platform.