Chainlink Powers Swiss Finance: BX Digitals Bold Blockchain Move
- Chainlink partners with BX Digital and BX Swiss, part of Boerse Stuttgart Group, to bring Swiss tokenized equities onchain.
- Testnet launch enables decentralized securities pricing, with mainnet production to follow.
- Partnership aims to enhance market transparency, efficiency, and security in digital asset trading.
Chainlink has collaborated with BX Digital and BX Swiss, both subsidiaries of the Boerse Stuttgart Group, Europes sixth-largest exchange entity. This collaboration will shake things up for the Swiss digital asset market through on-chain price feeds for the price of securities on tokenized equities.
Currently on testnet, the project leverages technical infrastructure from BX Swiss to be able to finally operate. When deployed to mainnet, BX Digital will publish securities closing prices using Chainlinks open standard for decentralized price feeds: a pivotal advance in the linking of blockchain to traditional financial markets.
Pioneering Blockchain-Driven Settlement Systems
BX Digital drives innovation in the financial market of Switzerland due to its use case, where it has implemented an Ethereum-based DvP Settlement System; this will ensure that data from securities markets is decentralized, secure, and verifiable.
Andreas Ruflin, Chief Digital Officer at BX Digital, also highlighted some of the benefits this approach will bring to the fore in improving liquidity, price discovery, and secondary market trading. According to Ruflin, Chainlinks standard of verifiable data is crucial for the advancement of asset tokenization and safe settlement processes.
Merging Tradition with Innovation
The cooperation also represents further steps of BX Swiss on the road to going digital. Thus, David Kunz, COO of BX Swiss, said that he was looking forward to the combination of traditional finance with modern blockchain technology. In his opinion, putting its data directly on-chain would allow BX Swiss to make an emphatic statement about innovation and future proof its financial offering.
The project will contribute to accuracy and transparency while giving powerful insights to both issuers and investors. Merging traditional financial systems with blockchain solutions turns Switzerland into a global leader in the digital asset market.
Chainlinks Role in Strengthening Onchain Data Reliability
Once again, Chainlink has proved its partnership to be an even louder call for reliable on-chain data. Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs referred to the deal as a critical milestone for secure, efficient trading operations.
BX Digital already utilizes the Chainlink price standard to create a benchmark for Swiss-based equities, backed by an incredibly robust framework in the emerging digital asset landscape. This cooperation shows how blockchain can be a game-changer toward better financial inclusion and efficiency.
With Chainlinks decentralized solutions integrated into BX Digital, this is a vision for the future. Merging the best parts of traditional markets with blockchain innovation will go even further in sealing Switzerlands position in the modern evolution of financial markets.
Read more: https://www.tronweekly.com/chainlink-powers-swiss-finance-bx-digitals-bold/
Text source: TronWeekly
