Chainlink Technology Powers 21X: Europe’s Future of Tokenized Securities

• Chainlink and 21X join hands to provide highly accurate and reliable market data for its upcoming Financial Market Infrastructure (FMI).
• 21X would make its tokenized assets accessible to clients through the Chainlink Cross-Chain Interoperability Protocol (CCIP).

Frankfurt-based Fintech 21X has announced a strategic partnership with Chainlink (LINK) ahead of its much anticipated European Union (EU) regulated Financial Market Infrastructure (FMI). According to the press release, both parties would ensure that the secondary market price feeds for bids and ask prices on the distributed ledger technology (DLT) trading and settlement system is accurately enabled.

We’re excited to announce Europe’s first tokenized securities trading & settlement system—21X (@tradeon21x)—is adopting the #Chainlink standard. Price Feeds will underpin 21X’s trading engine & CCIP will connect it to assets across the onchain economy: https://t.co/ACGrBKuduL pic.twitter.com/BYKSBGUFp8— Chainlink (@chainlink) December 2, 2024

More About the Partnership

Delving into its upcoming project, we discovered that 21X’s FMI would ensure that order matching, settlement, and registry services for tokenized money and security, as well as trading, are seamlessly provided. In this case, the expected services would significantly leverage Chainlink’s standard to enhance tokenized assets with high-quality data and encourage cross-chain interoperability.

Commenting on this, the founder and CEO of 21X, Max Heinzle, highlighted that its tokenized assets would be made available to clients through the Chainlnk Cross-Chain Interoperability Protocol.

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. 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.

Meanwhile, Germany’s Federal Financial Supervisory Authority BaFin will supervise the first EU-regulated DLT trading and settlement system.

The Provisions of Chainlink (LINK)

Chainlink, which is expected to be one of the main projects behind this groundbreaking initiative has reached an enviable record of enabling more than $17 trillion in transaction value across the blockchain economy. Its usage is currently cut across the Web3 environment as major financial markets services such as SWIFT and Fidelity International and leading Decentralized Finance (DeFi) protocols such as Aave and Lido use it to power their applications.

According to the Global Head of Banking and Capital Markets at Chainlink Labs Angie Walker, its collaboration with 21X would ensure the provision of accurate and reliable data for the upcoming matching and settlement system.

We’re excited to partner with 21X and help foster the adoption of regulated blockchain-based markets across Europe. 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. By leveraging the Chainlink standard, 21X will ensure its matching and settlement system is underpinned by highly accurate and reliable market data, while CCIP will enable users to access a wide variety of assets from across the digital asset economy.

At press time, LINK was trading at $24.7 after surging by 25% in the last 24 hours to break a crucial resistance level at $22. According to a CNF report, LINK could hit $50 once it breaks out of the $18.4 to $26.3 range.