Chainlink's LINK token rose 2.5% to cross $24 following a collaboration with DigiFT and UBS to automate tokenized fund operations in Hong Kong. The partnership has received approval under Hong Kong’s Cyberport Blockchain and Digital Asset Pilot Subsidy Scheme to build automated infrastructure for tokenized financial products. The initiative aims to streamline the distribution, settlement, and management of tokenized funds, reducing reliance on manual processes and enhancing the use of smart contracts. Investors will place orders for tokenized products via DigiFT's regulated distributor smart contracts, with Chainlink’s Digital Transfer Agent framework processing and recording transactions on-chain. Additionally, Chainlink launched its Cross-Chain Interoperability Protocol on the Aptos blockchain, promoting better connectivity for decentralized finance applications. Recent analyses indicate that LINK has recovered well since mid-August, establishing support at the $23.60 level and outperforming the broader crypto market, which saw a 1.5% gain during the same timeframe.

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