BX Digital and BX Swiss Join Forces With Chainlink to Improve Digital Asset Trading With Accurate, Secure, and Decentralized Pricing Data

Based on the release news, BX Digital is building a transparent, user-friendly, and liquid market for digital assets on the Ethereum blockchain in Switzerland

Boerse Stuttgart Group members BX Digital and BX Swiss have joined forces with Chainlink to bring reliable pricing data for Swiss equities onto blockchain technology.

According to an announcement on Thursday, the solution is currently being tested with the help of BX Swiss. Once it’s live on the mainnet, BX Digital will use Chainlink to publish and share securities’ closing price data on the blockchain.

As reported by Cryptonews earlier this year, BX Digital is building a transparent, user-friendly, and liquid market for digital assets on the Ethereum blockchain in Switzerland. The platform is achieving this by implementing a Delivery vs Payment Settlement System.

By utilizing Chainlink, BX Digital will ensure that pricing data for digital assets is accurate, secure, and decentralized. This will help both issuers and investors trust the data, making digital asset trading safer and more efficient.

Commenting on the benefits of asset tokenization, Andreas Ruflin, Chief Digital Officer at BX Digital, said that traders on BX Digital will have access to better liquidity and price discovery, as well as reliable on-chain market data. He said, “A key element in enabling faster and more secure asset tokenization, secondary market trading, and settlement.”

Ruflin added that BX Digital is excited to be working with Chainlink to improve the overall experience for those trading digital assets on the platform, and to be playing a part in accelerating the adoption of digital assets in Switzerland.

“While asset tokenization can unlock major efficiencies, industry participants trading digital assets on BX Digital will not only benefit from secondary market liquidity and price discovery but will also have access to reliable on-chain market data”, Ruflin said.

Emphasizing BX Swiss's dedication to providing its data in a forward-thinking and innovative manner, David Kunz, COO of BX Swiss, stated that the partnership opens up new possibilities to fully embrace digital transformation and bridge the gap between tradition and innovation.

Emphasizing the importance of secure and accurate data for digital assets, Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, explained that this collaboration will address the demand for reliable, real-time on-chain pricing data.

“Working with BX Digital to deliver this essential component addresses the growing demand for direct, on-chain access to real-time data, which can enhance trading operations with greater efficiency and transparency”, Walker said.

“We look forward to bringing this new on-chain pricing data standard to the Swiss market with BX Digital.”

BX Digital also noted that the future of finance lies in blending traditional values with cutting-edge blockchain technology, adding that using Chainlink's standard will boost the Swiss digital asset market and make it accessible to a wider audience.