21X has partnered with Chainlink to establish Europe's first regulated tokenized securities platform, set to launch in early 2025 under the oversight of Germany's Federal Financial Supervisory Authority (BaFin).
Role of Chainlink in Partnership
Chainlink will play a critical role in the 21X platform by supplying price feeds and cross-chain functionality through its Cross-Chain Interoperability Protocol (CCIP). This technology will allow the integration of real-time market data and facilitate seamless asset transfers across multiple blockchain networks.
Key Platform Features
1. Regulated Infrastructure: Operating under the EU’s Distributed Ledger Technology (DLT) Regime, 21X will offer regulated order matching, trading, settlement, and registry services for tokenized assets. 2. On-Chain Price Feeds: Chainlink will enable accurate bid and ask price feeds, enriching market data for all listed products. 3. Cross-Chain Asset Accessibility: With CCIP, 21X members will gain access to assets and stablecoins across various blockchain protocols, enhancing liquidity and functionality.
Market Impact and Chainlink’s Growth
The launch of 21X comes at a pivotal moment for European crypto markets. The EU’s recently implemented Markets in Crypto Assets (MiCA) regulation has disrupted the industry, leading some firms to scale back operations. Meanwhile, Chainlink's LINK token has experienced significant price momentum following the announcement. On December 2, LINK hit a nearly two-year high of $26.90, marking a 36% surge in late trading. Over the past month, the token's value surged by 127%, climbing from under $11 in early November.
The partnership between 21X and Chainlink marks the beginning of a new era in the realm of tokenized securities, blending traditional financial systems with cutting-edge blockchain technology and setting a new benchmark for the industry in Europe.
