S&P Digital Markets 50 Index Will Gain Blockchain Verifiability Via Chainlink

Tokenized equity supplier Dinari collaborates Chain link to bring a new equity focused blockchain index on the chain, the firm announced on Wednesday.

The S&P Digital Markets 50 Index built by Dinari with the help of index provider S&P Dow Jones Indices, the parent of the S&P 500 and Dow Jones Indices, is expected to launch before the end of the year.

“By bringing the S&P Digital Markets 50 Index, Chainlink enables one of the first indexes to operate on-chain with real-time verifiable index data covering traditional and digital assets,” Chainlink Capital Markets President Fernando Vazquez said in a statement.

The index is built with 35 companies listed in the United States that have connections with blockchain and 15 major digital assets. However, an official list of assets has not yet been released, and a company representative did not immediately respond. Decrypt’s request for comment.

After the index is created, Dinari will tokenize it using its tokenized share platform, dShares, ensuring that every asset in the index is tokenized in a 1:1 ratio, with shares held with a regulated custodian.

The Chainlink network will provide real-time pricing and performance data, creating a transparent on-chain benchmark to match the off-chain index.

“Financial systems depend on trusted data and transparent infrastructure,” said Dinari co-founder and CEO Gabe Otte.

“Working with S&P Dow Jones Indices and Chainlink allows us to bring the same standard of reliability to tokenized benchmarks, ensuring that S&P Digital Markets 50 operates with integrity and on-chain verifiability.”

Tokenizing equities has been a key theme this year, favoring the entanglement of traditional and crypto financial systems.

This summer, tokenization firm Backed introduced its xStocks feature that allows users stock trading in companies like Tesla and Apple directly on the chain and via popular centralized crypto exchanges.

Also, Robinhood unveiled its own tokenized share offering for European users in June as Coinbase continues to see a similar product principle.

On Monday, Index provider FTSE Russell has announced it will use Chainlink to publish their market index data on blocked networks. The decentralized oracle network joined the The US Department of Commerce to integrate macroeconomic data to blockchains too.