21x, a European fintech company, has partnered with Chainlink to offer EU-compliant services. The EU’s MiCA regulations have radically transformed European crypto markets, creating new opportunities. As the altcoin price is on the rise, 21x is adopting the CCIP standard.
Chainlink partners with 21x!
21x announced a partnership with Chainlink, a crypto-centric technology company. This partnership will integrate 21x’s platform into CCIP, a Blockchain standard that is growing greatly in popularity. The announcement claims that 21x will be the “first EU-regulated financial market infrastructure” to provide services for tokenized money and securities. Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, said
We are excited to partner with 21X and help drive the adoption of regulated Blockchain-based markets across Europe. Leveraging the Chainlink standard, 21X will ensure that the matching and settlement system is backed by highly accurate and reliable market data.
Details of the collaboration and its impact on the altcoin price!
As you have been following on Kriptokoin.com, changing EU regulations, especially the Markets in Crypto Assets (MiCA) law, have played a big role in European markets recently. Last week, leading stablecoin issuer Tether significantly withdrew from its EU operations. It cited difficulties under MiCA for this. But other firms, such as RevolutX, are using this new opportunity to significantly expand their footprint.
It seems that 21x prefers the latter option. Through this collaboration with Chainlink, 21x will have the opportunity to provide order matching, trading, settlement and registration services in a market that would otherwise be disrupted. The firm also claimed in its press release that Germany’s Federal Financial Supervisory Authority (BaFin) will oversee the launch. Altcoin Chainlink is likely to benefit financially from this high-profile partnership. Moreover, LINK price has been rising since 21x announced the press release. On a daily basis, the LINK price has seen an increase of nearly 18%. But it is not yet clear whether the two are related.
Chainlink proponents compare LINK to XRP
XRP rose to $2.86 before pulling back slightly as community members anticipated a better political environment for crypto in the US and progress on Ripple’s stablecoin project. Some Chainlink advocates said the recent XRP run would draw attention to LINK. Aylo, a researcher and advisor to decentralized finance protocol Kamino Finance, suggested that XRP’s recent rally could draw attention to Chainlink’s partnerships with traditional finance and capital markets. Emphasizing that Chainlink is actively collaborating with traditional finance, Aylo said, “LINK is XRP.”
Chainlink advocate Zach Rynes, known as ChainLinkGod, echoed Aylo’s sentiments. In this regard, he claimed that LINK is the real “bank money”. Rynes said Chainklink is working with the “largest institutions” worldwide to connect banks to Blockhain. The LINK bull gave a list of partnerships between Chainlink and major banks and traditional financial institutions. “All this and more is not speculation or wishful thinking. It is the real work Chainlink is doing with financial institutions, as explained by the banks themselves.”
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