BX Digital and BX Swiss announced a partnership with Chainlink, the standard for onchain finance, to bring critical pricing data for Swiss-based equities onchain.
BX Digital is a sister company of the Swiss exchange BX Swiss – both are part of Boerse Stuttgart Group, the “sixth largest exchange group” in Europe.
The data solution is currently live on testnet with the “support of BX Swiss’ technical expertise and systems infrastructure.”
Once in production on mainnet, BX Digital will use the Chainlink standard to publish and “distribute securities closing price data onchain.”
BX Digital is creating a transparent, accessible, and liquid market for digital assets based on Ethereum blockchain technology in Switzerland by implementing a Delivery vs Payment (DvP) Settlement System.
By leveraging the Chainlink standard, BX Digital ensures securities market data price is accurately reported “onchain in a manner that is decentralized, verifiable, and secure.”
This will allow both issuers and investors to rely “on the accuracy and integrity of the data, increasing the efficiency and security of digital asset trading.”
Andreas Ruflin, Chief Digital Officer at BX Digital said:
“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. We believe that the Chainlink standard for verifiable data plays a crucial role in accelerating both the pace and security of asset tokenization, secondary market trading, and settlement.”
David Kunz, COO of BX Swiss said:
“As an established Swiss stock exchange, BX Swiss is committed to making its data available in a future-oriented and innovative way. The collaboration with BX Digital and Chainlink, opens up new opportunities to fully utilize the potential of digital transformation and to create a strong link between tradition and innovation.”
Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs said:
“A fundamental requirement for digital assets is access to secure and reliable onchain data, especially where market prices are concerned. Working with BX Digital to deliver this essential component addresses the growing demand for direct, onchain access to real-time data, which can enhance trading operations with greater efficiency and transparency. We look forward to bringing this new onchain pricing data standard to the Swiss market with BX Digital.”
With this collab, BX Digital says that it is sending a clear signal: The future of the financial market lies in “combining traditional values with innovative blockchain technology.”
Leveraging the Chainlink standard will help to further strengthen the Swiss market for digital assets and “make it accessible to a broad user base.”