21X, recognized as the first blockchain-based exchange licensed under the EU’s DLT Regime, has taken a significant step in advancing its services by integrating with Chainlink data oracles. This collaboration aims to provide real-time, verifiable market data specifically for tokenized securities traded on the 21X platform, leveraging the capabilities of the Polygon blockchain.
The integration, announced on a recent Monday, is facilitated by the Chainlink Runtime Environment (CRE). By doing so, 21X is enabling access to essential market data—such as best bid and ask prices, their corresponding quantities, and last traded prices—available in real-time and on-chain. This robust data provision is crucial for enhancing market transparency and operational reliability in a regulatory framework.
Max Heinzle, CEO of 21X, emphasized the importance of this move, describing it as a “foundational step” towards bridging the gap between blockchain technology and traditional capital markets. The integration is set to empower the platform with the transparency, auditability, and collateral utility that institutional investors demand in order to transition operations onto decentralized platforms.
“By integrating Chainlink into our regulated DLT trading venue, we’re delivering the transparency, auditability, and collateral utility that institutions require to move on-chain,” Heinzle noted, underlining the confidence this partnership instills in the market.
Chainlink’s infrastructure is already a cornerstone for securing a significant portion of decentralized finance (DeFi) transactions. Through this collaboration, 21X will automatically pull market data from on-chain contracts, allowing for aggregation and publication in a standardized format that systems can easily interpret.
Fernando Vazquez, President of Banking & Capital Markets at Chainlink Labs, expressed enthusiasm regarding 21X’s adoption of the Chainlink data standard. He stated that this initiative marks a pivotal moment in the evolution of the blockchain economy, facilitating the seamless use of EU-regulated tokenized securities across the on-chain landscape. Furthermore, it paves the way for institutional-grade assets to engage with DeFi protocols globally, potentially unlocking new pathways for capital investment.
Looking ahead, 21X has plans to expand its integration with Chainlink to incorporate pre-trade data, enhanced analytics, and additional asset classes, indicating an ongoing commitment to evolving and refining its offerings in the digital securities market.
