The collaboration between Dusk and NPEX is one of the most hardcore landing cases in the RWA track. Starting from 10% equity in NPEX by Dusk in 2020 to the formal signing in 2024, the goal is to establish Europe's first fully compliant blockchain securities exchange.
NPEX is a licensed exchange in the Netherlands (MTF + Broker + ECSP full license), managing over €300M in assets (involving over 100 small and medium-sized enterprises, and more than 17,000 investors). The core of the collaboration: using Dusk's privacy blockchain to tokenize these stocks and bonds on-chain, achieving issuance, trading, and settlement all on-chain, providing default privacy while allowing for regulatory audit.
Key progress:
- In 2025, a tripartite cooperation with Cordial Systems to develop zero-trust custody and blockchain stock trading standards.
- By the end of 2025, integration of Chainlink CCIP (cross-chain) and Data Streams (real-time market data) to allow tokenized securities to safely circulate across chains, with data directly on-chain.
- In 2026, the Dusk Trade platform (co-built with NPEX) will open a waitlist, supporting regulated RWA secondary trading.
This is not a PPT, but a real institutional-level application: hundreds of millions of euros of real securities on-chain, compliance without sacrificing privacy. Dusk thus embeds itself into the EU MiCA framework, becoming the preferred bridge for TradFi to enter Web3.
Low-profile yet impactful, institutions are already using it while retail investors are still waiting for the explosion in rhythm.