Chainlink (LINK) has soared 30% in 24 hours and is currently valued at USD 24.72, making it the top gainer among major cryptocurrencies. LINK’s rise has been fueled by collaborations with major traditional and crypto financial institutions, including Euroclear, Swift, and several banks. Chainlink and 21X are launching the first EU-regulated market infrastructure for tokenized money and securities under Germany's BaFin. This partnership strengthens Chainlink's role in providing secure and reliable data feeds and enables access to cross-chain assets via CCIP.
You'd be forgiven for overlooking it, as XRP is rising like there's no tomorrow, but the biggest gainer among the top crypto dogs is Chainlink (LINK). The 15th largest cryptocurrency by market capitalization has risen 30% in the past 24 hours, with the Link price increasing from around US$19 (AU$29.36) at the time of writing to US$24.72 (AU$38.23) currently.
Chainlink (LINK), daily chart, source: CoinMarketCap
Chainlink taps Euroclear, Swift and major banks
The LINK Rally comes as Chainlink is working on promising projects featuring many well-known crypto and TradFi players.
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Among the prominent groups are financial and market infrastructure providers such as Euroclear and Swift, asset managers Franklin Templeton and Wellington Management, banks and custodians such as UBS and Sygnum, and crypto natives Avalanche and Hyperledger Besu. , ZKsync, etc.
But one of the most recent developments is our collaboration with 21X. In collaboration with Chainlink, they plan to debut the first EU-regulated financial market infrastructure for tokenized money and securities.
By using Chainlink's on-chain financial standards to enhance data quality and enable cross-chain interoperability, this partnership will facilitate on-chain secondary market price feeds and support Chainlink's cross-chain interoperability. The protocol will be incorporated into the 21X system.
This will enable access to multi-chain assets under German financial regulator BaFin.
Promoting blockchain adoption in Europe
Commenting on the news, Max Heinzl, Founder and CEO of 21X, said: “We have secured all the necessary elements to launch Europe’s first tokenized securities market infrastructure under the EU’s DLT regime. “I will put it in.”
We look forward to launching 21X on a public permissionless blockchain in Q1 2025 and giving our clients and prospects access to a variety of tokenized assets through CCIP. Additionally, Chainlink provides a secure and accurate pricing data feed for products listed on 21X.
Max Heinzl, 21X
Angie Walker, global head of banking and capital markets at Chainlink Labs, added that the partnership will help “introduce regulated blockchain-based markets across Europe.”
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Trust and security are paramount when trading within a regulated environment, and Chainlink's infrastructure provides valuable support to improve the user experience of 21X's tokenized securities market infrastructure .
Angie Walker, Chainlink Labs
Previously, Chainlink revealed further developments in banking and capital markets, saying it wants to help financial institutions “leverage and develop customized, compliant, and future-proof blockchain applications and tokenized assets.” I was thinking.
⬡ Swift
⬡ Deposit Clearing Corporation (DTCC)
⬡ Euro Clear
⬡ Clear Stream
⬡ Brazilian Central Bank
⬡JP Morgan
⬡ State Street
⬡ UBS
⬡ BNY Melon
⬡ City
⬡ BNP Paribas
⬡ Edward Jones
⬡ Franklin Templeton
⬡ Wellington Management
⬡ Invesco
⬡ Faithfulness… pic.twitter.com/IXVzfCt3Vz
— Chainlink (@chainlink) December 2, 2024
