tokenized stocks Provider Dinari is collaborating with Chainlink to bring a new blockchain-focused equity index on-chain, the company announced on Wednesday.
The S&P Digital Markets 50 Index was built by Dinari in partnership with index provider S&P Dow Jones Indices, the maintainer of the S&P 500 Index and the Dow Jones Index, and is expected to launch by the end of the year.
“By powering the S&P Digital Market 50 Index, Chainlink enables one of the first indices to operate on-chain with verifiable, real-time index data across both traditional and digital assets,” Fernando Vazquez, President of Capital Markets at Chainlink, said in a statement.
The index is comprised of 35 U.S.-listed companies related to blockchain and 15 major digital assets. However, the official asset list has not yet been made public, and representatives of both companies have not responded. decryption Request for comments.
After index creation, Dinari will tokenize the index using dShares, a tokenization equity platform, ensuring that all assets within the index are tokenized in a 1:1 ratio and the shares are held by a regulated custodian.
Chainlink’s network then provides real-time pricing and performance data, creating a transparent on-chain benchmark that matches the off-chain index.
“The financial system relies on trusted data and transparent infrastructure,” said Gabe Otte, co-founder and CEO of Dinari.
“Working with S&P Dow Jones Indices and Chainlink allows us to bring the same standard of trust to tokenized benchmarks, ensuring that the S&P Digital Market 50 operates with integrity and verifiability on-chain.”
Tokenization of stocks is a major theme this year, further deepening the intertwining of traditional financial systems with cryptocurrencies.
This summer, tokenization company Backed introduced the xStocks feature, which allows users to: Trade stocks in companies like Tesla and Apple Directly on-chain and via popular centralized cryptocurrency exchanges.
In addition, Robinhood Announcing unique tokenized stock offering Coinbase launches for European users in June We continue to monitor the launch of similar products..
on monday, Index provider FTSE Russell announces use of Chainlink Publish market index data on the blockchain network. Decentralized oracle network combined. U.S. Department of Commerce to integrate macroeconomic data Also on blockchain.
