Singapore-Based Blockchain Platform RISE Accelerates Innovation in Onchain Orderbook Products with Acquisition of BSX Labs
RISE Acquires BSX Labs, A Team with Proven Experience in Designing and Operating Hybrid Orderbook Trading Systems
In a significant move to accelerate innovation in orderbook products on its high-speed Ethereum Layer 2 blockchain, RISE today announced the acquisition of BSX Labs. The team behind the BSX perpetuals exchange on the Base network brings expertise from supporting over $15 billion in orderbook trading volume. This strategic step will enable RISE to develop EVM-based synchronously composable orderbook primitives that bridge traditional financial markets and DeFi applications.
BSX Team’s Expertise Positions RISE for Accelerated Innovation
The BSX team’s impressive background and experience in designing hybrid orderbook trading systems positions RISE to accelerate innovation in fully onchain orderbook products. The BSX perpetuals exchange, launched in 2023, has processed over $15 billion in cumulative trading volume. With this expertise, the combined entity will deliver integrated orderbook primitives that benefit from synchronous composability with other DeFi applications, higher speed and throughput, and increased compatibility between blockchain and traditional financial markets.
Increased Opportunities for Retail and Institutional Users as well as App Developers
This collaboration will unlock new opportunities for retail and institutional users, as well as app developers. With the integration of BSX’s technology and talent, RISE is poised to launch a native, best-in-class orderbook infrastructure on its blockchain. The market is yet to see fully composable orderbooks onchain and at scale, with existing solutions either fragmented or unable to support such scale.
Integrated Orderbooks: A Key Strategic Step for RISE
"The BSX team built an impressive trading engine that attracted significant volume and a loyal user base," said Sam Battenally, CEO of RISE. "Integrating their technology and talent is a key strategic step for us. It accelerates our roadmap towards launching a native, best-in-class orderbook infrastructure on RISE."
RISE’s Vision for Onchain Trading
RISE, together with the BSX team, is taking an opinionated bet that integrated perps and spot orderbooks will be the preferred infrastructure for brokers, asset issuers, and retail traders. With the immense forecasted growth of stablecoins and tokenization, this collaboration will position RISE as a leader in onchain trading.
Benefits for Retail Brokers, Asset Issuers, and DeFi Users
The integration of BSX’s technology will bring several benefits to retail brokers, asset issuers, and DeFi users. Retail brokers will gain access to deep liquidity, while asset issuers can list spot and perps instruments for their assets. Users will get access to the best execution, new assets, and net-new DeFi yield opportunities.
Path Forward for BSX Token Holders
The acquisition will provide a path forward for BSX token holders, who will be eligible for an airdrop of RISE’s upcoming native token. 1.5% of the RISE token total supply will be allocated to BSX tokens currently in circulation in the market.
Conclusion
The acquisition of BSX Labs by RISE is a significant step towards accelerating innovation in orderbook products on its high-speed Ethereum Layer 2 blockchain. The team behind the BSX perpetuals exchange brings expertise from supporting over $15 billion in orderbook trading volume. With this collaboration, RISE is poised to launch a native, best-in-class orderbook infrastructure and unlock new opportunities for retail and institutional users as well as app developers.
About BSX Labs
BSX Labs was the developer of the BSX Protocol, a decentralized perpetuals exchange on Base; backed by Blockchain Capital, Coinbase Ventures, Arthur Hayes, and more. The BSX team comes from an impressive background with past experience at Coinbase, Kraken, Jump, and FalconX.
About RISE
RISE is a high-performance Ethereum Layer 2 that powers programmable markets onchain. Built for CEX-grade performance and full EVM composability; RISE enables builders, traders, and institutions to create and connect to global orderbooks alongside a thriving DeFi ecosystem with ease.