21x, Chainlink$LINK
By establishing a strategic partnership with , the company completed the integration of the Cross-Chain Interoperability Protocol (CCIP), thus taking an important step towards becoming the first blockchain financial market infrastructure operating under European Union regulations.
MiCA regulations are playing a major role in reshaping the crypto ecosystem in Europe, and 21x aims to seize opportunities in the tokenized money and securities space.
“We are very excited to partner with 21x and will help them accelerate their adoption in regulated blockchain-based markets in Europe,” a Chainlink spokesperson said, emphasizing the importance of this collaboration. With this partnership with blockchain pioneer Chainlink, 21x plans to integrate its platform with CCIP. This is a blockchain standard that is rapidly being adopted worldwide, positioning 21x as the first “EU regulated financial market infrastructure” to provide tokenized money and securities services.
“We are excited to partner with 21x and help drive adoption in regulated blockchain markets across Europe. By leveraging the Chainlink standard, we will ensure 21x’s matching and placement systems are backed by highly accurate and reliable market data,” said Angie Walker, Head of Global Banking and Capital Markets at Chainlink Labs.
The regulatory landscape in Europe is undergoing a major transformation, particularly due to the Markets in Crypto Assets (MiCA) law. As a prominent example, stablecoin issuer Tether ceased operations in Europe due to non-compliance with MiCA regulations. However, companies like Revolut are expanding their operations by taking advantage of these changes.
21x seems to be in an advantageous position to adapt to these regulatory changes, unlike other players. Through its partnership with Chainlink, 21x aims to provide matching, trading, settlement, and registration services while effectively managing the regulatory environment. Additionally, Germany’s Federal Financial Supervisory Authority (BaFin) will provide oversight to this project, increasing its credibility.
Chainlink stands to benefit from this high-profile collaboration, especially with the LINK token showing upward momentum in the market. While the LINK price has shown resilience following the announcement, a direct relationship with this partnership has not yet been determined. Chainlink also continues to strengthen its market position by establishing several strategic partnerships that include CCIP integration, one of which is the collaboration with the Brazilian Central Bank.
As regulations within the EU continue to evolve, 21x’s proactive approach to compliance requirements demonstrates an innovative strategy for success in the blockchain industry. MiCA regulations aim to provide a framework that protects investors by increasing transparency, a critical step for the healthy growth of the crypto market.
Furthermore, 21x’s successful implementation of the CCIP could serve as a model for other market players and pave the way for an approach that standardizes interactions between blockchains. This transformation could create a more integrated European financial system for both retail and institutional investors and increase overall efficiency.