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Tokenize Xchange Integrates Chainlink Price Feeds to bring secure global price benchmarks to its users

By Amy Luong
November 22, 2021
Tokenize Xchange x chainlink
Tokenize Xchange x Chainlink

Singapore, 22 November 2021 — Singapore-based digital exchange platform Tokenize Xchange (Tokenize) today announced that it has integrated Chainlink Price Feeds as the platform’s go-to oracle solution. By integrating the industry-leading oracle network, Tokenize can now leverage Chainlink’s extensive library of high-quality Price Feeds to give their users real-time price data on assets trading across its platform. Chainlink Price Feeds will help provide Tokenize users with the strong assurance that the price benchmarks they refer to when trading are tamper-proof, transparently generated, and reflective of market-wide price discovery.

Chainlink has built infrastructure that is seamless to integrate and time-tested in production. Chainlink currently helps secure leading DeFi protocols responsible for over 75 billion dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

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 or sign up for an account today!

During times of high volatility, both centralized and decentralized exchanges may experience large price swings that create price disparities between token prices on different exchanges. This integration with Chainlink will enable Tokenize to supply users trading on its platform, with volume-weighted prices aggregated from across all leading exchanges, helping them make more informed trading decisions, especially during periods of heavy market volatility.

Some of the key benefits integrating Chainlink Price Feeds include:

  • High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes.
  • High Update Frequency — Chainlink Price Feeds running natively on Polygon can perform frequent price updates at minimal costs, resulting in precise price data that consistently reflects current market conditions.
  • Decentralized Infrastructure — Chainlink Price Feeds utilize decentralized networks of professional node operators run by leading blockchain DevOps teams and traditional enterprises with a strong track record of uptime during market volatility.
  • Transparent Monitoring — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of price feeds.

“We are honored to integrate with Chainlink so that we can provide our users with the most reliable pricing, even during times of high market volatility or unexpected exchange or API outages.” — Qi Yu Hong, Founder and CEO of Tokenize Xchange

As Chainlink expands to bring its suite of decentralized services to more leading blockchains such as Polkadot, this will open more opportunities for further integrations in the future. Tokenize Xchange is planning to issue its own TKX exchange token — currently issued as an ERC-20 token on Ethereum — on Polkadot as part of the firm’s long-term vision to build the next generation currency exchange supporting both established and emerging digital currencies.


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 is currently the second-largest DAX by traded market share.

To date, Tokenize has more than 100,000 users across Singapore, Malaysia, Thailand, and Vietnam.

For more information, please visit www.tokenize.exchange. Follow Tokenize Xchange on Facebook, Telegram, Medium, Twitter, Instagram. Join our Facebook Group to connect with other users.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

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