LayerZero and 21X Complete On-Chain Order Book Pilot

LayerZero and 21X AG have completed a joint technology pilot. 21X AG holds a European Union DLT trading and settlement system license and operates the trading and settlement of tokenized securities under the supervision of the Federal Financial Supervisory Authority of Germany and the European Securities and Markets Authority. The pilot runs on a private permissioned instance of the LayerZero blockchain, Zero, testing tokenized stocks of U.S. companies. It lasts for one month and can complete 10,000 order matches per second, achieving up to a 45-fold improvement over the baseline L2 EVM network. Matching and settlement are completed in the same transaction without the need for off-chain matching. Zero is a high-performance blockchain launched by LayerZero in February this year in collaboration with multiple institutions, fully compatible with EVM. The private permissioned instance allows institutions to control network participants and data visibility while maintaining compatibility with the multi-chain ecosystem.

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