Combined with Tokeny partnership, end-to-end tokenisation infrastructure connects custody to onchain trading and settlement
AMINA Bank AG, a Swiss Financial Market Supervisory Authority-regulated crypto bank with global reach, today announced it has become a listing sponsor on 21X, the first fully regulated distributed ledger technology trading and settlement system in the European Union. AMINA is the first regulated bank to join the 21X ecosystem as a listing sponsor. Combined with AMINA’s existing collaboration with Tokeny for onchain asset issuance, the partnership creates a complete tokenisation infrastructure that addresses a major constraint of institutional adoption: the absence of an end-to-end pathway connecting regulated traditional asset custody with onchain issuance and liquid secondary markets.
The partnership comes as tokenisation transitions from pilot programmes to deployed financial infrastructure. Real-world assets onchain have grown from approximately $5 billion in 2022 to over $24 billion by mid-2025, with year-end estimates exceeding $38 billion. Including stablecoins, tokenised assets already surpass $330 billion in value. Together, AMINA, Tokeny, and 21X address two persistent barriers to institutional tokenisation: the lack of regulated secondary market liquidity, and the absence of a seamless pathway from traditional asset ownership to onchain distribution.
Key Insights at a Glance
- Complete Infrastructure Stack: The partnership connects AMINA’s institutional-grade custody, Tokeny’s enterprise tokenisation platform with ERC-3643 compliance, and 21X’s BaFin-regulated trading and settlement venue.
- Market Growth Trajectory: Tokenised real-world assets grew from $5 billion in 2022 to over $24 billion by mid-2025, with year-end estimates exceeding $38 billion, plus over $330 billion in stablecoins.
- Regulatory First: 21X, licensed by German financial market authority BaFin with ESMA contribution, operates as the world’s first fully regulated blockchain-based trading and settlement venue for tokenised securities.
- AMINA’s Track Record: Since receiving its FINMA licence in 2019, AMINA has expanded across Switzerland, Abu Dhabi, Hong Kong, and the EU, maintaining a zero-default lending record over more than six years.
End-to-End Tokenisation Infrastructure for Institutions
The combined tokenisation infrastructure connects three critical layers that have historically operated in isolation. AMINA provides institutional-grade custody and banking for the underlying traditional assets—government bonds, corporate securities, treasury bills, and other financial instruments—and serves as listing sponsor, guiding issuers through the process of bringing tokenised products to market. Tokeny, an Apex Group company with over $3.5 trillion in assets serviced, provides the enterprise-grade tokenisation platform, handling smart contract deployment and automated compliance controls via the ERC-3643 standard. 21X, licensed by BaFin with ESMA contribution, provides the regulated trading and settlement venue for primary and secondary markets, enabling smart contract-based trading and atomic settlement of tokenized financial instruments. “Institutional investors have rightly waited for tokenisation infrastructure that meets their governance and compliance standards,” said Myles Harrison, Chief Product Officer at AMINA. “By partnering with 21X and building on our collaboration with Tokeny, we’ve assembled the complete infrastructure—from banking custody of underlying assets through to onchain issuance and exchange trading. For institutions looking to access tokenised securities, this is the pathway they’ve been waiting for.”
21X: Europe’s First Regulated DLT Trading and Settlement Venue
21X’s exchange, which went live in September 2025 as the world’s first fully regulated blockchain-based trading and settlement venue for tokenised securities, operates on the Polygon blockchain and the Stellar network. Partners including Chainlink, Circle, and SBI Digital Markets support the infrastructure, enabling smart contract-based matching and settlement that eliminates the need for central securities depositaries and clearing intermediaries. The venue’s regulatory status under BaFin, with ESMA contribution, provides institutional investors with the compliance assurance required for participation in tokenised asset markets. “We are proud to welcome AMINA to the 21X ecosystem as a premier listing sponsor,” said Max J. Heinzle, CEO of 21X. “With our secondary market now fully operational, the addition of a world-class institutional partner like AMINA is a significant milestone. The Swiss bank’s heritage and pioneering work in digital assets provide the exact blend of rigour and innovation required to scale our platform. Together, we are making the trading and settlement of tokenised equities, bonds, and funds a seamless reality for the global financial community.”
AMINA’s Regulated Crypto Banking Foundation
AMINA brings to the partnership a track record as a pioneer in regulated crypto banking. Founded in April 2018 and established in Zug, Switzerland, the bank received its Swiss banking and securities dealer license from FINMA in August 2019. Since then, AMINA has expanded across four jurisdictions: Switzerland, Abu Dhabi Global Markets (receiving Financial Services Permission in February 2022), Hong Kong (receiving Type 1, 4, and 9 licenses from the Securities and Futures Commission in November 2023, with Type 1 uplifted for digital asset dealing in October 2025), and the EU via Austria (receiving a CASP license from Austria’s FMA under MiCAR in October 2025). The bank has maintained a zero-default lending track record over more than six years of operations. Industry recognition includes being named among the Top 50 Companies in the blockchain ecosystem by CVVC Global Report and CB Insights, winning the European WealthBriefing Award in the Digital Assets Solution category in 2023, and most recently receiving Institutional Digital Asset Innovation of the Year at the Hedgeweek Global Digital Assets Awards 2025.
Future Outlook
The AMINA-21X-Tokeny partnership represents a significant maturation of the tokenisation market, moving from fragmented pilot programmes toward integrated, regulated infrastructure. For institutional investors, the existence of a complete pathway connecting traditional custody, compliant issuance, and regulated secondary trading removes the operational and regulatory uncertainties that have limited participation. For issuers, the combination of listing sponsorship, tokenisation platform, and trading venue creates a streamlined route to market for tokenised securities. As tokenised real-world assets approach $40 billion by year-end excluding stablecoins, and with the total tokenised market exceeding $330 billion including stablecoins, the infrastructure now exists to support continued growth. AMINA’s expansion across multiple regulatory jurisdictions also positions the partnership to scale beyond Europe into Asia and the Middle East, where the bank already maintains licensed operations.
Conclusion
AMINA’s partnership with 21X and Tokeny creates the first complete, end-to-end tokenisation infrastructure connecting regulated custody, compliant onchain issuance, and regulated secondary market trading. For institutional investors seeking exposure to tokenised real-world assets, this addresses the governance, compliance, and liquidity barriers that have historically constrained participation. With tokenised assets growing rapidly and regulatory frameworks maturing, the infrastructure is now in place for scaled institutional adoption.
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About AMINA — Crypto. Banking. Simplified.
Founded in April 2018 and established in Zug (Switzerland), AMINA Bank AG is a pioneer in the crypto banking industry. In August 2019, AMINA Bank AG received the Swiss Banking and Securities Dealer License from the Swiss Financial Market Supervisory Authority (“FINMA”). In February 2022, AMINA Bank AG, Abu Dhabi Global Markets (“ADGM”) Branch received Financial Services Permission from the Financial Services Regulatory Authority (“FSRA”) of ADGM. In November 2023, AMINA (Hong Kong) Limited received its Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) licenses from the Securities and Futures Commission (“SFC”). In October 2025, the firm’s Type 1 license was further approved for uplift to include digital asset dealing services for Professional Investors under Hong Kong’s digital asset regulatory framework. In October 2025, AMINA (Austria) AG (“AMINA EU”) received its CASP license from Austria’s Financial Market Authority (“FMA”) under the Markets in Crypto-Assets (MiCAR) framework.
CVVC Global Report and CB Insights named AMINA as one of the Top 50 Companies within the blockchain ecosystem. In 2023, AMINA won the European WealthBriefing Award in the Digital Assets Solution, Fund Manager category. AMINA was most recently recognised as Institutional Digital Asset Innovation of the Year at the Hedgeweek® Global Digital Assets Awards 2025.
To learn more about AMINA, visit www.aminagroup.com.
About 21X
21X is a Frankfurt-based investment firm at the forefront of revolutionizing capital markets through the use of blockchain technology. On 8th September 2025, 21X fully opened the first ever fully regulated distributed ledger technology trading and settlement system (DLT TSS) in the EU, positioning the company as a leader in the transition from traditional to tokenized asset-based capital markets. 21X enables atomic trading without counterparty risk through smart contract-based issuance, trading and settlement of tokenized stocks, bonds and funds.
See the short explainer video on 21X and our blockchain-based exchange here.
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