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crypto.news 2025-01-30 11:34:00

Netherlands’ third-largest bank ABN AMRO pilots tokenized trading on Ethereum

ABN AMRO, the third-largest bank in the Netherlands, has completed on-chain trading with stablecoins in a pilot with German exchange 21X. Netherlands ‘ third-largest bank ABN AMRO has completed a trading trial with 21X, a Frankfurt-based digital asset exchange, which tested on-chain settlement for tokenized securities using stablecoins. In a Jan. 30 announcement , 21X said the test involved listing a tokenized asset on its on-chain market. ABN AMRO issued an ERC-3643 token on the Polygon Amoy Testnet, while 21X paired it with an ERC-20-based “E-Money Token,” without naming the asset. “As part of our launch preparations we are now in the process of onboarding institutional participants,” said Max Heinzle, chief executive of 21X. He also praised blockchain’s role in cutting costs and increasing efficiency in the on-chain system. You might also like: Taurus partners with Chainlink for broader tokenization adoption ABN AMRO has been involved in digital assets for some time, including issuing tokenized green bonds. Martijn Siebrand, digital assets program manager at ABN AMRO, stated that after the pilot, the bank is now adding “secondary market capabilities” to its scope through cooperation with the European DLT trading and settlement system. 21X, which secured an EU-regulated trading license in December 2024, now plans to launch its exchange, though the exact timing remains unclear. Germany has also been advancing asset tokenization. In November 2024, the country’s central bank joined Singapore’s Project Guardian, an initiative by the Monetary Authority of Singapore focused on digital asset standardization and interoperability. Read more: Netherlands seeks public feedback on crypto tax rules: report

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