LINK Prices Hit a Two-Year High
Chainlink (LINK) experienced a significant surge, climbing over 36% and surpassing $26 during late trading on December 2.
Over the past month, LINK’s value more than doubled, rising from under $11 at the start of November to its current high.
This marks its highest price since January 2022, with most of the gains occurring in the last few hours.
During the early Asian session, LINK traded slightly below $24, according to Coingecko data.
Chainlink and 21X Partnership Brings Fresh Momentum
On December 2, Chainlink and 21X, a German fintech firm, announced a partnership to create the first EU-regulated infrastructure for tokenized securities.
Key Highlights of the Partnership:
The platform, set to launch in Q1 2025, will be overseen by Germany's Federal Financial Supervisory Authority (BaFin).
Chainlink's technology will play a pivotal role in several functions, including:
Providing accurate price data feeds.
Enabling interoperability through the CCIP (Cross-Chain Interoperability Protocol).
Facilitating access to assets and stablecoins across blockchain protocols.
Max Heinzle, founder and CEO of 21X, emphasized that the platform incorporates all the essential elements to establish Europe's tokenized securities market infrastructure under the EU DLT regime.
The partnership aims to promote institutional adoption of tokenized securities, enabling efficient issuance, trading, and settlement of stocks, bonds, and funds using smart contracts.
Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, stated:
“By leveraging Chainlink’s standards, 21X ensures its matching and settlement system is backed by highly accurate and reliable market data, while CCIP allows users to access a wide range of assets across the digital asset economy.”
Chainlink Strengthens Ties with Traditional Finance
On December 3, Chainlink shared a blog post highlighting its progress with traditional financial institutions.
Major Partnerships Include:
Swift, JPMorgan, Citi Group, Franklin Templeton, Fidelity, Lloyds, ANZ Bank, and BNY Mellon.
Ecosystem ambassador Zach Rynes described LINK as a "banking coin" with stronger ties to traditional finance than XRP.
“Ripple often repackages established concepts and presents them as entirely new,” Rynes remarked, further emphasizing Chainlink's deep integration with traditional financial systems.
The 21X partnership and Chainlink’s growing connections with traditional finance position LINK as a key player in the tokenized securities market, explaining its recent price surge.
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