- Chainlink (LINK) has surged 30% in 24 hours, now priced at US$24.72, becoming the top gainer among major cryptocurrencies.
- LINK’s rally is fuelled by collaborations with major traditional and crypto financial entities, including Euroclear, Swift and several banks.
- Chainlink and 21X are launching the first EU-regulated market infrastructure for tokenised money and securities under Germany’s BaFin.
- The partnership will boost Chainlink’s role in providing secure, reliable data feeds and enable cross-chain asset access through the CCIP.
With XRP rallying like there’s no tomorrow you’d be forgiven to have missed it, but the biggest gainer among top crypto dogs is Chainlink (LINK). The 15th largest crypto by market cap is up 30% in the past 24 hours, sending the LINK price from around US$19 (AU$29.36) to now US$24.72 (AU$38.23) at the time of writing.
Chainlink Taps Euroclear, Swift and Major Banks
The LINK rally comes as Chainlink works on a bunch of promising projects featuring many well-known crypto and tradFi players.
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Among the illustrious group are financial and market infrastructure providers such as Euroclear and Swift, asset managers Franklin Templeton and Wellington Management, banks and custodians such as UBS, Sygnum and more, as well as crypto-natives Avalanche, Hyperledger Besu and ZKsync.
One of the most recent developments however, is the collab with 21X. Together with Chainlink, they’re set to debut the first EU-regulated financial market infrastructure for tokenised money and securities.
Using Chainlink’s on-chain finance standards to enhance data quality and enable cross-chain interoperability, the partnership will facilitate on-chain secondary market price feeds and incorporate Chainlink’s Cross-Chain Interoperability Protocol into 21X’s system.
This will allow access to multi-chain assets under Germany’s financial regulatory authority, BaFin.
Boosting European Blockchain Adoption
Founder and CEO of 21X, Max Heinzle, commented on the news, saying it will “place all the elements required to launch Europe’s first tokenized securities market infrastructure under the EU’s DLT Regime”.
We will launch 21X in Q1 2025 on a public permissionless blockchain and look forward to making a variety of tokenized assets accessible to our clients and prospects through CCIP. In addition, Chainlink will provide secure and accurate price data feeds for listed products on 21X.
Max Heinzle, 21XGlobal Head of Banking and Capital Markets at Chainlink Labs, Angie Walker, added that the partnership would help with the “adoption of regulated blockchain-based markets across Europe”.
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Reliability and security are paramount when transacting within regulated environments, and Chainlink’s infrastructure provides valuable support for enhancing the user experience of 21X’s tokenized securities market infrastructure.
Angie Walker, Chainlink LabsEarlier, Chainlink revealed more banking and capital markets developments, hoped to help financial institutions to leverage and to “develop customized, compliant, and future-proof blockchain applications and tokenized assets”.
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