Chainlink LINK Gains Institutional Momentum as Westpac and Imperium Markets Join Reserve Bank-Backed Initiative

Chainlink's price stabilized NEAR $16.47 on Thursday following a 5% weekly increase, supported by news of institutional adoption. Westpac Institutional Bank and Imperium Markets are integrating LINK into Project Acacia—an initiative by the Reserve Bank of Australia exploring tokenized asset settlement.

The partnership utilizes Chainlink's Runtime Environment to facilitate Delivery-vs-Payment settlements between blockchain markets and Australia's PayTo system. "This capability is crucial for accelerating digital asset adoption," chainlink noted, highlighting expanding institutional applications.

Technical analysis indicates potential for continued bullish momentum, with $18.81 identified as the next target. This collaboration further bridges traditional finance with blockchain infrastructure.