SBI Digital Markets (SBIDM), a subsidiary of Japan’s largest online financial services group, SBI Holdings, said it is working with German firm 21X, a distributed ledger technology (DLT)-based market infrastructure provider on listing tokenized securities. SBIDM will list tokenized securities on 21 X’s DLT market, which has a trading and settlement system on a public permissionless blockchain. 21X said it is in the process of applying for a license to operate a DLT trading and settlement system (DLT TSS) under the European Union’s DLT regime (DLTR). Once approved, 21X is expected to become a fully regulated DLT market operator in Europe, overseen by the European Securities and Markets Authority (ESMA).