The price of the Chainlink token surged after the announcement of a new securities tokenization partnership in Europe.
Chainlink's price rose more than 36% to reach a nearly two-year high of $26 in late trading on December 2.
the last month, the price of LINK has more than doubled, rising from less than $11 in early November to today's peak, the highest since January 2022. Much of that rise has occurred in the last few hours.
Coingeco said the asset's price fell slightly during the Asian session on Tuesday morning, and it was trading at a price just above US$BTC December 2, the company announced a partnership between #Chainlink and Frankfurt-based #fintech company 21X to create Europe's first EU-regulated financial market infrastructure for tokenized securities.
Scheduled to launch in Q1 2025, the platform will be overseen by the German Federal Financial Supervisory Authority (BaFin) and will utilize Chainlink technology to perform a number of key functions. These include providing secure and accurate price data on listed instruments, enabling cross-chain interoperability through the Chainlink Cross-Chain Interoperability Protocol (CCIP), and facilitating access to assets and stable coins through multiple #blockchain protocols.
Max Heintzle, founder and CEO of 21X, praised the partnership, adding that it brings together all the elements needed to launch Europe's first tokenized securities market infrastructure under the EU DLT regime.
The partnership aims to support the institutional adoption of tokenized securities by enabling the issuance, trading and settlement of stocks, bonds and funds based on smart contracts.
Angie Walker, global head of banking and capital markets at Chainlink Labs, said:
December 3, Chainlink retweeted a November blog post about its progress with traditional financial institutions and banks, perhaps adding to the momentum.
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