21X, a platform specializing in tokenized money and securities, 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 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 21X to integrate real-time market data and facilitate seamless asset transfers across multiple blockchain networks.
Key Features of the Platform
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 Impacts 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. Following the announcement, Chainlink’s LINK token has seen significant price momentum, hitting a nearly two-year high of $26.90 and rising 36%. Over the past month, the token’s value surged by 127%, climbing from under $11 in early November.
The joint project by 21X and Chainlink may redefine the securities market in Europe, doubling efficiency through innovative blockchain infrastructure and providing new opportunities for market participants.
