21X, which will reportedly launch the EU-regulated financial market infrastructure (FMI) in order to provide order matching, trading, settlement and registry services for tokenized money and securities, announced that it has signed a partnership with Chainlink, which claims to be the standard for onchain finance.
Under the terms of the agreement, 21X’s on-chain trading, matching, and settlement system will leverage the Chainlink standard to enrich tokenized assets with “high-quality” data and “facilitate cross-chain interoperability.”
Together, 21X and Chainlink will enable on-chain secondary market price feeds for bid and ask prices on the first “EU-regulated” distributed ledger technology (DLT) trading and settlement system, which will be launched under the “supervision of BaFin, Germany’s Federal Financial Supervisory Authority.”
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is planned to become an integral part of 21X’s multi- and cross-chain strategy as it will enable 21X members to “access assets and stablecoins issued on a variety of blockchain protocols.”
Max Heinzle, founder and CEO of 21X, said:
“We will launch 21X in Q1 2025 on a public permissionless blockchain and look forward to making a variety of tokenized assets accessible to our clients and prospects through CCIP.”
Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, stated:
“Reliability and security are paramount when transacting within regulated environments, and Chainlink’s infrastructure provides valuable support for enhancing the user experience of 21X’s tokenized securities market infrastructure.”
As noted in the update, 21X is a Frankfurt-based fintech, developing a blockchain-powered exchange for “tokenized assets, which will operate under the regulatory supervision of the European Union. ”
With the adoption of tokenized securities, 21X is positioned to enable smart contract-based issuance, trading and settlement of tokenized stocks, bonds and funds. 21X has submitted its license application “to operate a DLT trading and settlement system (DLT TSS) and is expected to be one of the first companies authorized to operate under the EU DLT regime.”
As covered, Chainlink claims it is the standard for onchain finance, “verifiable data, and cross-chain interoperability.”
Chainlink is unifying liquidity across markets and has enabled more than $17 trillion in transaction value across the blockchain economy.
Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as DeFi protocols like Aave, GMX, and Lido, use Chainlink to power “applications for banking, asset management, and other sectors.”