21x, a European fintech company, has partnered with Chainlink to provide EU compliance services. EU's MiCA regulations have completely transformed the European cryptocurrency market, creating new opportunities.
21x is also adopting the CCIP standard as Chainlink's LINK token steadily increases in value.
Chainlink and 21x
21x has announced a partnership with Chainlink, a technology company focused on cryptocurrency. This collaboration will integrate 21x's platform into CCIP, an increasingly popular blockchain standard. The announcement states that 21x will become "the first EU-regulated financial market infrastructure" to provide services for money and tokenized securities.
"We are excited to partner with 21X and help drive the adoption of regulated blockchain-based markets across Europe. By leveraging the Chainlink standard, 21X will ensure that its matching and payment systems are powered by highly accurate and reliable market data," said Angie Walker, Global Director of Banking and Capital Markets at Chainlink Labs.
Changes to EU regulations, particularly the Markets in Crypto-Assets (MiCA) law, have played a significant role in the European market recently. Last week, the leading stablecoin issuer Tether significantly withdrew from EU operations, citing difficulties under MiCA. However, other companies like Revolut X are using this new opportunity to significantly expand their territory.
It seems that 21x is opting for the second option. Thanks to this collaboration with Chainlink, 21x will have the opportunity to provide order matching, trading, payment, and registration services in a disrupted market. The company's press release also stated that the Federal Financial Supervisory Authority of Germany (BaFin) will oversee its launch.
For its part, Chainlink may benefit financially from this high-profile partnership. Moreover, its LINK asset has appreciated since 21x announced its press release, but it is unclear whether the two assets are related. Chainlink has experienced sustained price growth, and 21x may or may not be a significant contributor.
The price performance of Chainlink (LINK). Source: BeInCrypto
Blockchain companies have also made several recent partnerships, including the integration of CCIP, including a partnership with the Central Bank of Brazil last month.