BX Digital and BX Swiss Partner with Chainlink to Modernize Swiss Financial Markets

BX Digital, BX Swiss, and Chainlink collaborate to enhance Swiss financial markets by integrating secure blockchain technology for accurate asset pricing.

Temitope Olatunji By Temitope Olatunji Marco T. Lanz Edited by Marco T. Lanz Updated 3 mins read
BX Digital and BX Swiss Partner with Chainlink to Modernize Swiss Financial Markets

Key Notes

  • BX Digital and BX Swiss have partnered with Chainlink to bring reliable pricing data for Swiss equities onto blockchain technology.
  • The solution is in testing and will use Chainlink to publish securities' closing prices on the blockchain once live.
  • The partnership bridges traditional finance and blockchain to enhance the Swiss digital asset market.

BX Digital and BX Swiss, both part of the Boerse Stuttgart Group, have joined forces with Chainlink to bring reliable pricing data for Swiss equities onto blockchain technology. The team announced that the solution is currently in a testing phase 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.

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. 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.

Improving Digital Asset Trading with Chainlink’s Data

The Chief Digital Officer at BX Digital, Andreas Ruflin, emphasized the benefits of asset tokenization. He noted that traders on BX Digital will have access to better liquidity and price discovery, as well as reliable on-chain market data. He believes Chainlink’s data will be key to making asset tokenization, trading, and settlement faster and more secure. Andreas 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.”

Leveraging Blockchain to Bridge Tradition and Innovation

David Kunz, COO of BX Swiss, stated that the company is focused on providing its data in a forward-thinking, innovative manner. The partnership with BX Digital and Chainlink opens up new possibilities to fully embrace digital transformation and bridge the gap between tradition and innovation.

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs, emphasized the importance of secure and accurate data for digital assets. She explained that this collaboration would address the demand for reliable, real-time on-chain pricing data, enhancing the transparency and efficiency of trading operations. Angie stated:

“A fundamental requirement for digital assets is access to secure and reliable on-chain data, especially where market prices are concerned. 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. We look forward to bringing this new on-chain pricing data standard to the Swiss market with BX Digital.”

BX Digital emphasized through the partnership that the future of finance lies in blending traditional values with cutting-edge blockchain technology. The company added that using Chainlink’s standard will help boost the Swiss digital asset market and make it accessible to a wider audience.

Temitope Olatunji

Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games. 

Temitope Olatunji on X