ABN AMRO, the third largest bank in the Netherlands, has successfully completed a test for on-chain trade with stablecoins. This test was carried out in collaboration with the German Crypto-Ex-Exchange 21x and marks an important step towards further institutional adoption of blockchain technology in Europe.
ABN AMRO and 21x test tokenized effects
On Thursday, it announced 21 times that it had completed a test together with ABN AMRO in which a geken asset was noted on the Exchange. The bank created an ERC-3643 token on the Polygon Amoy Testnet, while 21x used an ERC-20-based e-Money token for the settlement.
According to Max Heinzle, CEO of 21x, this test is a crucial preparation for the official launch of their platform. He emphasized that Blockchain lowers the costs and increases efficiency within the on-chain financial system. Heinzle added that 21x is currently on onboarding institutional participants.
ABN AMRO focuses on digital assets
This is not the first time that ABN AMRO is experimenting with digital assets. Earlier, the bank already published token green bonds and continues to investigate innovative blockchain solutions. Martijn Siebrand, Program Manager Digital Assets at ABN AMRO, indicated that the bank is working on the implementation of secondary market capacities after this successful test. This focuses on trade and settlement within a regulated digital environment.
Germany embraces assets-tokenization
Germany is also taking major steps towards Tokenized Finance. In December 2024, 21x obtained a trade permit regulated by the EU, making it one of the first European stock exchanges that fully meets the new digital assets laws of Mica. In addition, the German Central Bank joined Project Guardian in Singapore in November 2024, an initiative that focuses on the standardization and interoperability of digital assets.
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Source: https://newsbit.nl/abn-amro-test-tokenisatie-met-gebruik-van-de-ethereum-blockchain/
