Chainlink surges 37% to $26 after EU partnership announcement

Chainlink’s (CRYPTO:LINK) native token, LINK, surged by 37% on December 2, reaching a two-year high of $26 following the announcement of a partnership with Frankfurt-based fintech 21X.

This collaboration aims to develop Europe’s first regulated infrastructure for tokenised securities under Germany’s Federal Financial Supervisory Authority (BaFin).

The platform, set to launch in Q1 2025, will utilise Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for secure price data, cross-chain interoperability, and access to various blockchain assets and stablecoins.

"Europe’s first tokenised securities market infrastructure under the EU’s DLT Regime," Max Heinzle, CEO of 21X, highlighted the importance of this partnership.

Chainlink Labs’ Angie Walker noted the project would ensure market reliability and support institutional adoption of tokenised assets, enabling trading, settlement, and issuance of stocks, bonds, and funds via smart contracts.

The news has propelled LINK to more than double its value in a month, climbing from under $11 in early November.

Despite cooling to $24 in the Asian trading session on December 3, LINK maintains its momentum, buoyed by its strengthening ties with traditional finance institutions.

Chainlink’s ecosystem ambassador, Zach Rynes, emphasised the project's extensive partnerships with major financial entities like Swift, JPMorgan, and Fidelity.

Rynes described LINK as a “bank coin,” underscoring its alignment with traditional financial systems compared to competitors like XRP (CRYPTO:XRP).

The announcement coincided with a retweeted November blog post highlighting Chainlink's integration with key TradFi players, reinforcing the token’s position in bridging decentralised finance with traditional markets.

The collaboration marks a significant step toward institutional adoption of blockchain-based tokenised securities, positioning Chainlink as a leader in transforming Europe’s financial infrastructure.

At the time of reporting, the Chainlink price was $24.96.