LCX and Chainlink Collaborate to Provide Credible Reference Prices for Cryptocurrencies
Aug 11, 2020
SAN FRANCISCO - August 11, 2020 - (Newswire.com)
LCX and Chainlink are collaborating to provide transparent and verifiable reference price services for decentralized finance applications (DeFi) and the token economy. LCX has developed its own proprietary data generation methodology and as a data-provider will publish its reference prices and accompanying methodology on the blockchain using Chainlink’s decentralized price oracle technology. This combined framework will give institutional entities access to secure, reliable, transparent, and compliant blockchain-based price feeds.
LCX is set to become a Data Provider to the Chainlink network to provide reliable daily reference prices for digital assets. Cryptocurrency reference rates are often used as the basis for daily exchange rates in traditional transactional platforms and decentralized financial (DeFi) applications, as well as to assign valuation to assets in corporate financial statements, tax returns, statistical reports, digital assets analyses, and more.
Due to Chainlink’s secure, reliable, and open-source infrastructure, LCX is able to publish its credible reference prices on the blockchain in an easily verifiable and immutable manner. LCX’s credible reference prices are then available to be used by DeFi applications, traditional financial infrastructure, enterprises, governments, and more dealing with digital assets.
“We are providing new infrastructure that allows traditional finance the ability to service DeFi applications and interact with digital asset products,” said Daniel Kochis, Head of Chainlink Business Development. “We are excited to work with LCX to deliver credible data sources to our ecosystem, which opens them up to a wide variety of users and markets.”
LCX is headquartered in Vaduz, Liechtenstein, a reputable international financial center that has introduced a legal framework for blockchain companies, referred to as the “Blockchain Act”. LCX has launched the LCX Cryptocurrency Reference Price Services, which provides a credible daily reference price to the marketplace and enhances market participants’ risk management of digital assets. LCX Cryptocurrency Reference Price Services are designed to help accelerate the professionalization of digital asset trading.
“Transforming the cryptocurrency market into a mature token economy requires reliability and integrity in cryptocurrency reference rates,” said Monty C. M. Metzger, CEO, and Founder of LCX. “Utilizing Chainlink allows us to deliver our compliant reference rates via an on-chain oracle network as a public good for individuals and institution alike.”
About Chainlink:
Chainlink is a decentralized open-source oracle network that gives smart contracts secure and reliable access to data providers, web APIs, enterprise systems, cloud providers, IoT devices, payment systems, other blockchains, and much more. It provides oracles to leading DeFi applications like Synthetix, Aave, and Kyber Network; numerous blockchains such as Ethereum, Polkadot, and Tezos; as well as large enterprises including Google, Oracle, and SWIFT
Learn more at the Chainlink website or @Chainlink.
About LCX:
LCX, the Liechtenstein Cryptoassets Exchange, is a global fintech company that aims to provide a range of products and services for the token economy in a regulated and compliant manner.
Learn more at the LCX website or @LCX.
Press Contact:
Mr. D. Sood
[email protected]
Related Links
LCX Website
Press Release Service by Newswire.com
Original Source: LCX and Chainlink Collaborate to Provide Credible Reference Prices for Cryptocurrencies
More News
The Stars of This Philadelphia Exhibition? Squirrels.
After a squirrel invaded his home, Wilmer Wilson IV decided to research everything about the creature. The result is a solo show titled “SKIRL!”
Why Is Every Book ‘Gothic’ Now?
Candlelit corridors, eerie old portraits and other tropes aren’t exclusive to horror and romance this year — they’re everywhere.
Former Movistar Plus Content Chief Domingo Corral On His HBO Deal & Why Quality TV Can Be Commercial
Former Movistar Plus content boss Domingo Corral sees his production deal with HBO Max as the route to realising an ambition to make independent TV and film that is both mainstream and premium in quality. His shock exit from the Telefonica-owned Movistar after 11 years in May 205 was followed in March with the announcement […]
Sir Ian McKellen leads tributes to 'beloved actor' Sir Patrick Stewart after his death at 86
The actor died in Los Angeles following a "a brief and poignant journey" with Alzheimer's Disease and Lewy Body Dementia.
Annecy Winner ‘The Violinist’ Found Its Italian Co-Producers at Tokyo Market, Director Ervin Han Tells Anime Co-Production Panel
A meeting at TIFFCOM in 2023 brought Italian co-producers to “The Violinist,” the animated feature that went on to win the top prize at France’s Annecy International Animation Film Festival this year, Singaporean filmmaker Ervin Han told a panel at the Tokyo market. Han, co-founder and CEO of Singapore’s Robot Playground Media, spoke at “Anime’s […]
Apple TV's Nocturne is Nordic noir by the numbers
Apple TV's Nocturne has just enough serviceable storytelling and professionally lit scenes to lull you into habit-viewing. But after several episodes of uninspired reveals you might suddenly come to your senses and ask: "Wait, why am I watching this?"
Tupac Shakur murderer 'Keffe D' transferred to max-security prison
Tupac Shakur murderer ‘Keffe D’ transferred to max-security prison Duane “Keffe D” Davis the man convicted of orchestrating Tupac Shakur’s 1996 murder was sentenced to prison on October 13. Now, the convicted criminal has been transferred to a maximum-security prison in the Las Vegas...
Taiwanese Feature ‘Uncle’ Wins Top Prize at Tokyo Gap-Financing Market Awards
Taiwanese project “Uncle,” directed by Yen Hao-hsuan, won the Tokyo Project Award on Friday at the seventh Tokyo Gap-Financing Market (TGFM) in Tokyo. “Uncle” had already picked up the Asian Gen-Z Award earlier in the ceremony. Prizes went to a handful of the 24 projects selected for this year’s market. Yen’s debut feature, set in […]
Nelly reveals how much he got paid to perform at Taylor Swift's Houston show
Nelly reveals how much he got paid to perform at Taylor Swift's Houston showNelly has revealed that he was paid $50,000 to perform at a Taylor Swift concert in 2011.For those unaware, the 51-year-old singer shared the stage with the pop star in Houston back in 2011 during the Speak Now World...
Keep Up With Kardashian-Jenner Halloween Costumes From Over the Years
Why celebrate Halloween? Because it’s iconic, and Kim Kardashian loves doing iconic s--t. And if you’ve been keeping up, then you know The Kardashians star goes all out for the holiday. When it...
Gay Filipino Couple’s Homecoming Documentary ‘We Had a Plan’ Boarded by Cat&Docs Ahead of IDFA Premiere, Trailer Unveiled (EXCLUSIVE)
“We Had a Plan,” a documentary about a gay Filipino couple who head home after a decade as undocumented cleaners in the Netherlands, has been picked up for international sales by Paris-based Cat&Docs ahead of its world premiere at IDFA. Variety has the exclusive first look at the trailer. Directed by Suzanne Raes and co-directed […]
Ex-Traitors players talk tactics and celebrity final predictions
Former contestants share their thoughts on life in the castle ahead of Friday's final.
Recommended
Patrick Stewart: A Life in Pictures
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.