Tokenized Equity Specialist Dinari is tapping Oracle Network Chainlink For pricing data to carry the upcoming crypto-focused index S&P DJI, the companies told Coindesk on Wednesday.
The S&P Digital Markets 50 Index 35 public companies involved in blockchain tech and 15 leading cryptocurrencies will be tracked. Dinari will create an index token using the “dshares” offering, allowing investors to gain exposure to traditional financial (tradfi) and crypto markets through a single digital asset. Each dshare is backed 1:1 with the underlying stock and is held by a regulated custodian, retaining rights such as dividends and redemption.
While S&P DJI does not support the token itself, the index provider confirmed that the integration of ChainLink ensures that the data it operates on meets standards for transparency and reliability.
ChainLink’s will use the decentralized Oracle network to ensure that the index reflects up-to-date market performance directly on blockchain protocols. Oracles are services that provide blockchains with information from the real world that may be needed to inform blockchain programs such as smart contracts.
“Through the power of the S&P Digital Markets 50 Index, ChainLink enables one of the first indexes to operate onchain with verifiable, real-time index data covering both traditional and digital assets,” Fernando Vazquez, president of Capital Markets at ChainLink Labs, said in a statement.
The initiative fits into a broader trend of bringing tradfi instruments such as bonds, funds and equity, often called real-world assets (RWA), onto the blockchain rails.
RWA Platform Centrifuge Unveiled In September what it called the first licensed S&P 500 Index Fund Onchain, SPXA, traded on Coinbase’s base network and was managed by Janus Henderson and Centrifuge’s Anemoy.
