Chainlink Partners BX Digital And BX Swiss To Deliver On-Chain Market Data

In an astounding development, Chainlink joined hands with BX Digital and BX Swiss, two Swiss-based subsidiaries of Europe’s sixth-largest exchange group, Boerse Stuttgart.

According to a recent announcement, Chainlink’s data solution for Swiss-based tokenized equities has gone live on testnet. This sets the stage for mainnet launch, enabling BX Digital to use the Chainlink standard to publish and distribute on-chain securities pricing.

Chainlink Collaborates with BX Digital and BX Swiss

In a recent X post, Chainlink announced its collaboration with BX Digital and BX Swiss, envisioning to deliver on-chain market data for tokenized equities. The X post cited, “We are excited to announce that Chainlink has partnered with BX Digital and BX Swiss, both part of Boerse Stuttgart—one of the largest exchange groups in Europe.”

Notably, BX Digital, Swiss exchange BX Swiss’ sister company, is establishing a digital assets market in Switzerland. This development comes amid the prevailing discussions on adopting a strategic Bitcoin reserve in the country.

Leveraging Ethereum blockchain technology, BX Digital focuses on implementing a Delivery vs Payment (DvP) Settlement System. Partnering with Chainlink, BX Digital envisions ensuring the accurate on-chain reporting of the securities market data.

Underscoring the basic need for reliable and secure on-chain data for digital assets, Angie Walker, Chainlink’s Global Head of Banking and Capital Markets, stated,

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.

Unveiling a Collaboration that Unites Tradition and Innovation

The decentralized on-chain market pricing guarantees the data’s accuracy and integrity. Thus, the Swiss companies’ partnership with the decentralized blockchain oracle network helps boost the efficiency and safety of crypto trading.

In addition, Andreas Ruflin, Chief Digital Officer at BX Digital highlighted the industry participants’ reliability on Chainlink’s on-chain data. Ruflin stated that Chainlink’s pricing data enhances the speed and security of various processes, including asset tokenization, secondary market trading, and settlement.

Moreover, BX Swiss COO David Kunz posited that the collaboration paves the way for utilizing the vast opportunities of digital transformation. He added that it creates a “strong link between tradition and innovation.”

LINK Secures 12% Weekly Gain

Driven by the collaboration, Chainlink’s LINK token has secured a notable surge of 12% over the last seven days. Despite a marginal decline of 0.03% over the last 24 hours, LINK surged by more than 3% in a month. The 24-hour trading volume of the token has also seen a massive downfall of 32%, currently at $683.9 million.

However, Chainlink’s collaboration with the Swiss companies is expected to bolster the future of the financial market. The integration of Chainlink’s standard is anticipated to fortify Switzerland’s digital asset market, making it more accessible to a diverse range of users.