21X announced a strategic partnership with Chainlink to launch Europe’s first EU-regulated tokenized securities market.
The Role of Chainlink in the Partnership
Chainlink will play a crucial role in the 21X platform by providing price feeds and cross-chain functionality through its Cross-Chain Interoperability Protocol (CCIP). This will allow integration of real-time market data and facilitate asset transfers across multiple blockchain networks.
Key Features of the Platform
1. Regulated infrastructure under the EU’s Distributed Ledger Technology (DLT) Regime, offering order matching, trading, settlement, and registry services for tokenized assets. 2. On-chain price feeds by Chainlink, enriching market data for all listed products. 3. Access to assets and stablecoins across various blockchain protocols via CCIP, enhancing liquidity and functionality.
Market Impacts and Chainlink’s Growth
The launch of 21X comes at a pivotal moment for European crypto markets, with the EU’s newly implemented MiCA regulation changing the landscape and leading some firms to scale back operations. Following the announcement, Chainlink’s LINK token saw significant price movement, hitting a nearly two-year high of $26.90.
The partnership between 21X and Chainlink represents a significant advancement in integrating blockchain technology into traditional financial systems in Europe.
