Tokenize Xchange Integrates CF BIRC, Giving Users Access to Industry-Wide Bitcoin Interest Rate Benchmark
Dear Tokenize Xchange Users,
Tokenize Xchange is pleased to announce that it has integrated the CF Bitcoin Interest Rate Curve—In Association With Chainlink (CF BIRC). By integrating CF BIRC, Tokenize Xchange gains access to a tamper-resistant digital asset interest rate that it can display to its users on its Earn page, providing them with a seamless way to track an industry-wide benchmark of current and forecasted Bitcoin interest rates.
CF BIRC is designed to help propel Web3 financial markets toward their next stage of adoption. CF BIRC is a replicable, market-representative, and manipulation-resistant benchmark providing a standard market gauge of current and forecasted Bitcoin interest rates over a set of maturities.
As a market-wide benchmark for Bitcoin debt markets, CF BIRC allows participants to gauge the interest rates they are receiving and hedge against interest rate risk. By providing Tokenize users with a way to track industry-wide Bitcoin interest rates, users can be better informed about the current state of the lending landscape in digital asset markets.
Tokenize Xchange is a digital trading platform that aspires to build the next-generation currency exchange for established and emerging digital currencies. It is a secure centralized exchange that supports over 50 cryptocurrency pairs with enhanced security practices such as two-factor authentication and compulsory IP address whitelisting. The platform gives users peace of mind when trading whereby their assets are stored under a multi-signature cold wallet with Bitgo custodial solutions, which is backed by Digital Asset Insurance coverage from Bitgo.
To find out more about Tokenize Xchange, visit our website.
CF BIRC is a Chainlink Data Feed delivered on-chain, built according to the same security and reliability standards as hundreds of other Chainlink Data Feeds that already help secure tens of billions of dollars across the DeFi ecosystem. Some of the critical benefits of Chainlink Data Feeds include:
- High-Quality Data — Chainlink oracles can manage API keys and account logins, allowing them to aggregate and deliver premium data from highly available and financially incentivized APIs.
- Reliable Nodes — Chainlink Data Feeds are secured by a large collection of independent, security-reviewed, and Sybil-resistant oracle nodes run by leading enterprises, data providers, and DevOps teams who have a strong on-chain history of performance even during extreme network congestion.
- Decentralized Infrastructure — Chainlink Data Feeds are decentralized at the data source, oracle node, and network levels, eliminating any central point of failure in the sourcing and delivery of external data.
- Transparent Performance — Chainlink Data Feeds can be monitored by anyone in real-time, using existing data analytics tools such as market.link and reputation.link, allowing users to verify the data triggering their contract.
Tokenize Xchange is also looking into integrating CF BIRC into our upcoming loan product.
“Foundational market-wide information standards like CF BIRC are critical for the growth and adoption of digital asset markets. Tokenize Xchange is excited to be among the first to integrate CF BIRC to provide our users with a seamless way to track industry-wide Bitcoin interest rates.”— Qi Yu Hong, Founder and CEO of Tokenize Xchange.
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
About Tokenize Xchange
Tokenize Xchange (Tokenize) is a Singapore-headquartered digital exchange platform that allows the trading of digital assets in a safe and secure environment with competitive fees. Founded in 2017, its platform currently allows the trading of over 50 cryptocurrencies, including Bitcoin, Ethereum and its own unique token, the TKX.
Tokenize is one of the first three digital asset exchange (DAX) operators to receive full approval from the Securities Commission Malaysia in April 2020. In Malaysia, Tokenize Malaysia is currently the second-largest DAX by traded market share. To date, Tokenize Xchange has more than 250,000 users across Singapore, Malaysia, Thailand, and Vietnam.
Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk.