LayerZero and 21X AG Complete Onchain Trading Pilot
Key Summary
LayerZero released performance metrics Tuesday from a joint technical pilot with 21X AG, demonstrating that a private-permissioned instance of the Zero blockchain achieves 10,000 order matches per second for US equity tokens. The month-long test ran 21X AG's fully onchain central limit order book without offchain matching, delivering a 45x throughput improvement over standard L2 EVM baselines.
Key Bullets
- LayerZero and 21X AG released results Tuesday from a month-long technical pilot testing US equity tokens on a private-permissioned instance of Zero.
- The institutional pilot recorded 10,000 order matches per second, delivering a 45x performance improvement over standard L2 EVM baseline networks.
- Public on-chain transaction records confirm that 21X AG operates its central limit order book entirely on-chain without relying on offchain matching servers.
- Filings and public disclosures indicate that Zero was developed in collaboration with Citadel Securities, the DTCC, ARK Invest, and the Intercontinental Exchange.
Pilot Delivers High-Speed Order Matching
LayerZero released the results of a joint technical pilot with 21X AG Tuesday morning, showing that a private-permissioned deployment of the Zero network achieved 10,000 order matches per second. The month-long test focused on US equity tokens traded through 21X AG's infrastructure under European regulatory oversight. This setup yielded up to a 45x improvement in transaction throughput compared to common public and private EVM network baselines. Order matching and settlement completed simultaneously within the exact same transaction.
Traditional venues that market themselves as onchain typically rely on offchain matching engines before posting final results to public or private ledgers. 21X AG operates its central limit order book entirely on-chain with zero offchain intermediaries involved in order execution. Public on-chain transaction records confirm that this deployment runs live in production in Europe under BaFin and ESMA regulatory oversight. The architecture eliminates standard counterparty risks through smart contract-based execution of tokenized stocks, bonds, and funds.
Institutional Backing Drives Zero Deployment
Public disclosures indicate that the Zero blockchain was initially announced in February in collaboration with major legacy financial institutions including Citadel Securities, the DTCC, ARK Invest, and the Intercontinental Exchange. Deploying the network on a private-permissioned instance provides participating institutions with strict control over network participation and data visibility while maintaining baseline compatibility with the broader EVM multi-chain ecosystem. 21X AG continues to operate its live multi-chain infrastructure alongside the new pilot network.
Capital markets firms require infrastructure capable of carrying heavy institutional order flow without compromising speed or security. Exchange order-book depth monitored during the month-long trial showed consistent stability under sustained loads without experiencing network congestion. LayerZero executives stated that the architecture was engineered specifically to handle institutional trading volumes. The firms plan to pursue additional tuning to push throughput metrics even higher in subsequent test phases.
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