Sygnum Bank is now independent Data Transmitter for ubinetic’s Oracle service
Sygnum Bank is pleased to announce that it has joined ubinetic’s oracle service as an independent Data Transmitter. ubinetic’s oracles provide smart contract developers with real-world data that can be used by decentralised applications, enabling the development of autonomous smart contracts that are executed in real-time, based on market conditions. As an independent Data Transmitter, Sygnum ensures this data is accurate and trusted.
ubinetic’s oracle application fetches prices from liquid markets, checks whether the source data is accurate, timely and complete, and signs the data to ensure that manipulation can be detected. Trusted digital asset experts such as Sygnum Bank act as Data Transmitters, running the application independently and confirming that the collected data corresponds to the data provided by the data source. For more information, read ubinetic’s medium blog post here.
Martin Burgherr, Sygnum’s Chief Clients Officer, says, “Accurate and reliable data on the blockchain increases the potential of digital assets to transform the financial industry, and is a key building block of Future Finance. We are very happy to be an independent Data Transmitter for ubinetic’s institutional-grade oracle solution on Tezos, and support the development of a trusted digital asset ecosystem.”
Werner Brönnimann, ubinetic’s Co-Founder, says, “We are excited to have Sygnum join the ubinetic oracle as a Data Transmitter. As a regulated digital asset bank, Sygnum is a trusted node in our oracle network, which is built with Tezos smart contracts and uses battle-tested technology from Google and Android.”
Sygnum is the world’s first digital asset bank, and a digital asset specialist with global reach. With Sygnum Bank AG’s Swiss banking licence, as well as Sygnum Pte Ltd’s capital markets services (CMS) licence in Singapore, Sygnum empowers its clients to invest in the digital asset economy with complete trust.
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ubinetic enables you to create your bespoke synthetic asset. We believe that these synthetic assets are cost-efficient and transparent. We build open-source software that allows you to create, store and manage your synthetic assets and data. To bring our vision to life, we kick-started youves, a decentralised, non-custodial and self-governing platform for the creation of synthetic assets.
This document was prepared by Sygnum Bank AG. This document may contain forward looking statements and may be subject to change. The opinions expressed herein are those of Sygnum Bank AG, its affiliates, and partners at the time of writing. The document is for informational purposes only and contains general material. It is for use by the recipient only. It does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum Bank AG to purchase or sell assets or securities. It is not intended to be used as a general guide to investing, and should be used for informational purposes only. When making an investment decision, you should either conduct your own research and analysis or seek advice from an expert to make a calculated decision. The information and analyses contained in this document have been compiled from sources believed to be reliable. However, Sygnum Bank AG makes no representation as to its reliability or completeness and disclaims all liability for losses arising from the use of this information.