Chainlink and 21X Partner to Develop Europe’s First EU-Regulated Financial Market Infrastructure
Chainlink and 21X, a Frankfurt-based fintech company, have joined forces in a groundbreaking partnership announced on December 2. Their collaboration aims to create Europe’s first EU-regulated financial market infrastructure for tokenized securities, set to launch in the first quarter of 2025. The platform will be under the supervision of Germany’s Federal Financial Supervisory Authority (BaFin) and will leverage Chainlink’s technology to execute various crucial functions.
Key Functions of the Platform
The partnership between Chainlink and 21X will enable the platform to provide secure and precise price data feeds for the listed products. Additionally, it will facilitate cross-chain interoperability through the Chainlink Cross-Chain Interoperability Protocol (CCIP) and grant seamless access to assets and stablecoins across multiple blockchain protocols. The ultimate goal of this collaboration is to bolster institutional adoption of tokenized securities by facilitating the issuance, trading, and settlement of stocks, bonds, and funds using smart contracts.
Chainlink’s Price Surge
Following the announcement of this significant securities tokenization partnership in Europe, Chainlink’s native token has witnessed a remarkable surge in value. The price of Chainlink has skyrocketed by over 36%, reaching a nearly two-year high of over $26 in late trading on December 2. Over the past month, the value of LINK has more than doubled, starting from under $11 in early November to its current peak, marking the highest point since January 2022.
Image: freepik
Designed by Freepik