21X has announced a strategic partnership with Chainlink to launch Europe's first EU-regulated tokenized securities market, expected to commence in early 2025 under BaFin's supervision.
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 via the 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: 21X will offer regulated order matching, trading, settlement, and registry services for tokenized assets under the EU’s DLT Regime. 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.
Market Impacts and Chainlink’s Growth
The launch of 21X comes at a pivotal moment for European crypto markets. The recent implementation of the Markets in Crypto Assets (MiCA) regulation by the EU has led to changes in the industry. Amid these developments, Chainlink's LINK token has demonstrated significant price momentum, reaching a nearly two-year high of $26.90 on Dec. 2, marking a 36% increase in late trading. Over the past month, its value surged by 127%, climbing from under $11 in early November.
The partnership between 21X and Chainlink represents an important step in the development of tokenized markets in Europe, offering new opportunities for security and efficiency in financial operations.
