Bitcoin and Ethereum ETF issuer, one of the few companies in this space, has now partnered with a popular altcoin. They are doing this for greater transparency. At the same time, this altcoin, which is almost monopolizing its field, gains an important partner. Despite competitors like Binance Oracle, Chainlink has grown steadily over the years.
Chainlink (LINK) and 21Shares
21Shares, which issues ETFs traded on the world’s largest exchanges, will leverage PoR for proof of reserves. Especially after the FTX collapse, questions arose about the real reserves of exchanges. While many centralized exchanges regularly publish reserve reports, they saw that this was not enough and started creating proof of reserves. Chainlink‘s product is exactly for this purpose. Chainlink Labs CBO Johann Eid said;
“21Shares plays an important role in supporting the adoption of digital assets, and the Chainlink platform helps financial institutions achieve their vision of seamless tokenization on a global scale.”
With PoR, reserves can be verified instantly and live. The integration was implemented following the ETH ETFs launched on July 23. Other ETF issuers may also seek support from Chainlink at this point, which could positively impact LINK Coin’s price performance in the medium and long term.
Indeed, with CCIP, Chainlink already guides many popular financial companies in the RWA field, providing them with infrastructure. At the same time, over the years, Chainlink has almost monopolized the DeFi space with its price feeds solutions. After the news, the LINK Coin price did not experience a significant increase.
