Chainlink (LINK) Explodes 37% to 2-Year High on EU Tokenized Securities Partnership
The blockchain oracle provider has seen its native token skyrocket following an announcement of a new partnership to tokenize securities in Europe. Chainlink prices have exploded by over 36% to an almost two-year high, topping $26 during late trading on Dec. 2. LINK has more than doubled in price over the past month, climbing from below $11 in early November to today’s peak, which is the highest it has been since January 2022. Most of those advances have occurred in the last few hours. According to Coingecko, the currency had cooled slightly and was trading at just over $24 during Tuesday AM Asian session.
Chainlink Partners With 21X
On December 2, Chainlink and 21X, a Frankfurt-based fintech, announced a cooperation to build Europe’s first EU-regulated financial market infrastructure for tokenised securities. The platform, which is set to begin in Q1 2025, will be overseen by Germany’s Federal Financial Supervisory Authority (BaFin) and will use Chainlink technology for a number of essential activities.
These include safe and reliable price data feeds for listed products, cross-chain interoperability via Chainlink’s Cross-Chain Interoperability Protocol (CCIP), and easy access to assets and stablecoins across several blockchain protocols.
Max Heinzle, 21X’s founder and CEO, commended the collaboration, stating that they were putting in place “all the elements required to launch Europe’s first tokenised securities market infrastructure under the EU’s DLT regime.”
The alliance aims to promote institutional adoption of tokenised securities by enabling smart contract-based issuance, trading, and settlement of stocks, bonds, and funds. According to Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, leveraging the Chainlink standard ensures accurate and reliable market data for 21X’s matching and settlement system, while CCIP provides access to a diverse range of assets from the digital asset economy.
Deeper Ties With TradFi
The alliance aims to encourage institutional adoption of tokenised securities by enabling smart contract-based issuance, trading, and settlement of stocks, bonds, and funds. According to Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, leveraging the Chainlink standard ensures accurate and reliable market data for 21X’s matching and settlement system, while CCIP allows users to access a diverse range of digital assets.
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