S&P Digital Markets 50 Index Will Gain Blockchain Verifiability Via Chainlink
Dinari, a tokenized equity provider, is partnering with Chainlink to launch the S&P Digital Markets 50 Index on-chain by the end of the year. Developed with S&P Dow Jones Indices, this index includes 35 U.S. blockchain-related firms and 15 major digital assets. Dinari will tokenize the index using its dShares platform, ensuring a 1:1 tokenized ratio for all included assets. Chainlink's network will provide real-time, verifiable pricing and performance data, creating a transparent on-chain benchmark. This collaboration furthers the integration of traditional finance with blockchain, amid growing interest in tokenized equities. Similar initiatives were recently introduced by companies like Backed, Robinhood, and FTSE Russell.
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Dinari Partners with Chainlink for On-Chain Equity Index
Tokenized equity provider Dinari has announced a collaboration with Chainlink to launch a blockchain-focused equities index. The new index, named the S&P Digital Markets 50 Index, is being created in partnership with S&P Dow Jones Indices, the company behind the S&P 500 and Dow Jones indices. The index is expected to go live before the end of the year.
Real-Time On-Chain Index Enabled by Chainlink
According to Fernando Vazquez, Chainlink’s Capital Markets President, the index will be one of the first to operate on-chain with verifiable, real-time data spanning both traditional and digital assets. The index includes 35 U.S.-listed firms connected to blockchain and 15 major digital assets, though an official list has yet to be published. Decrypt requested comments but received no immediate response from representatives.
Tokenizing the Index Using dShares
Once the index is created, Dinari plans to tokenize it using its dShares platform, which ensures every asset is tokenized at a 1:1 ratio. These shares will be held with a regulated custodian. With Chainlink’s network providing real-time pricing and performance data, the goal is to create a transparent on-chain benchmark that mirrors the off-chain index.
Commitment to Transparency and Reliability
Dinari co-founder and CEO Gabe Otte emphasized that trusted data and transparent infrastructure are crucial for financial systems. He stated, “Working with S&P Dow Jones Indices and Chainlink allows us to bring that same standard of reliability to tokenized benchmarks, ensuring the S&P Digital Markets 50 operates with integrity and verifiability on-chain.”
Rise of Tokenized Equities in 2023
Tokenization of equities has been a key financial trend in 2023, blurring the lines between traditional financial systems and crypto technologies. Companies such as Backed introduced the xStocks feature, enabling trading of firms like Tesla and Apple directly on-chain. Similarly, Robinhood launched a tokenized equities offering for European users in June, while Coinbase is reportedly exploring a similar product.
Chainlink's Expanding Role in Financial Data
Further highlighting Chainlink's involvement, FTSE Russell announced on Monday their decision to utilize Chainlink for publishing market index data on blockchain networks. Additionally, the U.S. Department of Commerce collaborated with Chainlink to integrate macroeconomic data into blockchain platforms, demonstrating the expanding role of decentralized oracle networks in financial innovation.