21x, a European fintech firm, partnered with Chainlink to supply EU-compliant providers. The EU’s MiCA rules have radically remodeled European crypto markets, creating new alternatives.
21x can also be adopting the CCIP normal as Chainlink’s LINK token steadily rises in worth.
Chainlink and 21x
21x introduced a partnership with Chainlink, a crypto-centric tech firm. This partnership will combine 21x’s platform onto CCIP, a blockchain normal massively rising in reputation. The announcement claims that 21x will change into “the primary EU-regulated monetary market infrastructure” to supply providers to tokenized cash and securities.
“We’re excited to companion with 21X and assist foster the adoption of regulated blockchain-based markets throughout Europe. By leveraging the Chainlink normal, 21X will guarantee its matching and settlement system is underpinned by extremely correct and dependable market information,” stated Angie Walker, International Head of Banking and Capital Markets at Chainlink Labs.
Shifting EU rules, notably the Markets in Crypto Property (MiCA) regulation, have performed an outsized function in European markets currently. Final week, main stablecoin issuer Tether considerably withdrew from EU operations, citing difficulties beneath MiCA. Different corporations like Revolut X, nevertheless, are utilizing this new alternative to increase their territory considerably.
Evidently 21x is selecting the latter choice. Because of this cooperation with Chainlink, 21x could have the chance to supply order matching, buying and selling, settlement, and registry providers in an in any other case disrupted market. The agency’s press launch additionally claims that Germany’s Federal Monetary Supervisory Authority (BaFin) will supervise its launch.
Chainlink, for its half, might profit financially from this high-profile partnership. Furthermore, its LINK asset has been rising in value since 21x publicized its press launch, but it surely’s unclear if the 2 are associated. Chainlink has already skilled sustained bullish momentum, and 21x might or might not be a significant contributor.
The blockchain agency has additionally carried out a number of latest partnerships that included CCIP integration, together with one with Brazil’s Central Financial institution final month.
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