AI Summary
- 21X, a digital asset exchange, has partnered with Chainlink (LINK) in preparation for the first EU-regulated tokenized securities trading and settlement system.
- The strategic partnership will assist 21X exchange by providing LINK’s CCIP technology which will underpin the platform’s on-chain trading.
- The announcement comes as Chainlink’s native LINK token crosses $20 and surged 30%+ over the past 24 hours. .
- The platform will provide reliable on-chain, regulated trading, and settlements with Chainlink’s Cross-Chain Interoperability Protocol (CCIP), allowing 21X to provide cross-chain interoperability.
21X, a digital asset exchange, has partnered with Chainlink (LINK) in preparation for the first EU-regulated tokenized securities trading and settlement system.
The strategic partnership will assist 21X exchange by providing LINK’s CCIP technology which will underpin the platform’s on-chain trading.
The announcement comes as Chainlink’s native LINK token crosses $20 and surged 30%+ over the past 24 hours.Â
21X & Chainlink to create the first EU-regulated FMI
21X is a European-based exchange that utilizes distributed ledger technology (DLT) on a permissionless blockchain network.
The platform will provide reliable on-chain, regulated trading, and settlements with Chainlink’s Cross-Chain Interoperability Protocol (CCIP), allowing 21X to provide cross-chain interoperability.
The platform’s trading settlement system will be delivered with the support of BaFin, Germany’s Federal Financial Supervisory Authority. Cross-chain interoperability and multi-chain asset management will be a key feature of 21X.
From 21X press release:
Our concept is for a streamlined and transparent system where investors can directly interact with each other, fostering faster execution and reduced costs. Our innovative platform will be built on a foundation of security, adhering to the stringent regulations of the EU DLT Regime.
We are delighted to announce our partnership with Chainlink as we put in place all the elements required to launch Europe’s first tokenized securities market infrastructure under the EU’s DLT Regime
According to Max Heinzle, founder and CEO of 21X, the platform is due to launch in early 2025 on a public permissionless blockchain. Tokenized assets will be made available alongside LINK’s CCIP technology.Â
LINK price insight
Over the past 24 hours, Chainlink has surged alongside other altcoins including XRP, HBAR, and ALGO. Many investors are expecting Chainlink to outperform its 2021 all-time high of $52.70.
Analysts and investors believe that Chainlink has matured enough over the past three years since 2021. With institutional investments and real-world use cases galore, LINK has become a staple cryptocurrency for many portfolios.
