Crypto
21X and Circle test tokenized securities on Arc

The facts
21X announced a collaboration with Circle to explore issuance, trading and settlement of tokenized securities on Arc in Europe and the United States. The company reports a test with sub-second USDC settlement on European infrastructure.
What changes for capital
The tests seek to reduce friction between securities trading and digital payments.
The scenarios
The test does not establish commercial availability of the proposed Arc operation. Applicable approvals must be checked for that operation and jurisdiction, separately from the existing European venue.
The next signal
Check pilot outcomes and the approvals applicable to the proposed commercial Arc operation and its jurisdiction, distinguishing it from the existing European venue.
Verification and limits
Expansion and the listing of securities on Arc are subject to European and US regulatory approvals. A test and expansion plan do not establish general commercial availability. The scenarios are conditional editorial inferences, not verified facts or forecasts. The cited sources support the facts; the next signal proposes checks still to be made.
Sources
Video context
Archive: Circle · 2025-11-04 · English. The issuer’s explanation of USDC. Includes corporate promotion; not independent analysis or footage of 21X tests.
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