21X Partners With Chainlink for EU-Regulated Trading and Settlement Services

21x, a European fintech company, partnered with Chainlink to offer EU-compliant services. The EU’s MiCA regulations have radically transformed European crypto markets, creating new opportunities.

21x is also adopting the CCIP standard as Chainlink’s LINK token steadily rises in value.

Chainlink and 21x

21x announced a partnership with Chainlink, a crypto-centric tech company. This partnership will integrate 21x’s platform onto CCIP, a blockchain standard massively growing in popularity. The announcement claims that 21x will become “the first EU-regulated financial market infrastructure” to provide services to tokenized money and securities.

“We’re excited to partner with 21X and help foster the adoption of regulated blockchain-based markets across Europe. By leveraging the Chainlink standard, 21X will ensure its matching and settlement system is underpinned by highly accurate and reliable market data,” said Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs. 

Shifting EU regulations, particularly the Markets in Crypto Assets (MiCA) law, have played an outsized role in European markets lately. Last week, leading stablecoin issuer Tether significantly withdrew from EU operations, citing difficulties under MiCA. Other firms like Revolut X, however, are using this new opportunity to expand their territory substantially.

It seems that 21x is choosing the latter option. Thanks to this cooperation with Chainlink, 21x will have the opportunity to provide order matching, trading, settlement, and registry services in an otherwise disrupted market. The firm’s press release also claims that Germany’s Federal Financial Supervisory Authority (BaFin) will supervise its launch.

Chainlink, for its part, may benefit financially from this high-profile partnership. Moreover, its LINK asset has been rising in price since 21x publicized its press release, but it’s unclear if the two are related. Chainlink has already experienced sustained bullish momentum, and 21x may or may not be a meaningful contributor.

Chainlink (LINK) Price Performance. Source: BeInCrypto

The blockchain firm has also carried out multiple recent partnerships that included CCIP integration, including one with Brazil’s Central Bank last month.