LayerZero, a cross-chain messaging and interoperability protocol, and 21X AG, a regulated European digital asset trading venue, have completed a joint technical pilot to test institutional trading on the Zero blockchain. The pilot focused on US equity tokens and ran for one month on a private-permissioned network.
The test used 21X AG’s fully on-chain central limit order book (CLOB), which matches buy and sell orders without relying on off-chain servers. It recorded up to 10,000 order matches per second, a 45-fold improvement compared to the Ethereum Virtual Machine (EVM) Layer 2 baseline. Order matching and settlement were completed within the same transaction.
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The companies said the results show that regulated trading venues can process institutional order flows entirely onchain. 21X AG already operates a live CLOB in Europe, supporting the trading and settlement of regulated financial instruments.
Image: Magnific
