AMINA-Tokeny-21X: How Europe Quietly Built the World's First End-to-End Regulated Tokenization Stack
For years, the tokenization industry has talked about bringing trillions in real-world assets on-chain. The numbers are impressive — over $20 billion in tokenized assets, BlackRock's BUIDL fund managing nearly $2.9 billion in on-chain U.S. Treasuries, and projections reaching $16 trillion by 2030. But beneath the headlines lies a stubborn problem: there has been no single regulated pipeline connecting traditional asset custody, compliant on-chain issuance, and liquid secondary markets. Until now.
In March 2026, AMINA Bank AG — a Swiss FINMA-regulated crypto bank formerly known as SEBA — became the first regulated bank to serve as a listing sponsor on 21X, Europe's first fully licensed distributed ledger technology trading and settlement system (DLT TSS). Combined with Tokeny's ERC-3643-based issuance platform, this three-layer stack represents something the industry has never had: a complete, regulation-native pathway from traditional securities to on-chain trading and settlement.
This isn't a pilot. It's live infrastructure.