Chainlink (LINK) Explodes 37% to 2-Year High in EU Tokenized Securities Association

Chainlink prices have surged more than 36% to a nearly two-year high, surpassing $26 in late trading on December 2.

LINK has more than doubled in price over the past month, rising from below $11 in early November to today’s high, which is the highest it has been since January 2022. Most these gains have occurred in the last few hours.

The asset had cooled slightly to trade at just over $24 during Tuesday morning’s Asian session, according to Coingecko.

Chainlink partners with 21X

The pair announced a partnership between Chainlink and 21X, a Frankfurt-based fintech, to develop the first EU-regulated financial market infrastructure for tokenized securities on December 2.

Scheduled to launch in the first quarter of 2025, the platform will operate under the supervision of Germany’s Federal Financial Supervisory Authority (BaFin) and leverage Chainlink’s technology for several key functions.

These include providing secure and accurate price data sources for listed products, enabling cross-chain interoperability through Chainlink’s Cross-Chain Interoperability Protocol (CCIP), and facilitating access to assets and stablecoins through various blockchain protocols. block chain

We are delighted to announce Europe’s first tokenized securities trading and settlement system: 21X (@tradeon21x)—is adopting the #Chainlink standard

Price feeds will support 21X’s trading engine and CCIP will connect it to onchain economy assets: https://t.co/ACGrBKuduL pic.twitter.com/BYKSBGUFp8

— Chainlink (@chainlink) December 2, 2024

Max Heinzle, founder and CEO of 21X, praised the partnership, adding that they were putting “all the necessary elements in place to launch Europe’s first tokenized stock market infrastructure under the EU DLT regime.”

The partnership aims to support the institutional adoption of tokenized securities, enabling the issuance, trading and settlement of shares, bonds and funds based on smart contracts.

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, stated:

“By leveraging the Chainlink standard, 21X will ensure that 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 across the economy digital assets”.

Deeper ties with TradFi

On December 3, Chainlink retweeted a blog post from November about its progress with financial institutions and traditional banks, which may have added to the momentum.

Some of these partnerships include major TradFi players such as Swift, JPMorgan, Citi Group, Franklin Templeton, Fidelity, Lloyds, ANZ Bank and BNY Mellon.

⬡ Fast
⬡ Depository Trust and Clearing Corporation (DTCC)
⬡ Euroclear
⬡ Clearstream
⬡ Central Bank of Brazil
⬡ JP Morgan
⬡ State Street
⬡ UBS
⬡ BNY Mellon
⬡ Citi
⬡ BNP Paribas
⬡ Edward Jones
⬡ Franklin Templeton
⬡ Wellington Management
⬡ Invesco
⬡ Loyalty… pic.twitter.com/IXVzfCt3Vz

— Chainlink (@chainlink) December 2, 2024

Meanwhile, ecosystem ambassador Zach Rynes said LINK was more of a “banking currency” than XRP.

“Ripple likes to take well-established concepts, package them up and present them as something completely new,” he said before highlighting Chainlink’s TradFi ties in a separate post on X.

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