Dinari, specialist in tokenized stocks, operates the Oracle Chainlink network for pricing data to go live for the S&P DJI’s upcoming crypto-focused index, the companies told CoinDesk on Wednesday.
The S&P Digital Markets 50 Index will track 35 public companies involved in blockchain technology and 15 major cryptocurrencies. Dinari will create an index token using its “dShares” offering, allowing investors to gain exposure to traditional (TradFi) and crypto financial markets through a single digital asset. Each dShare is backed 1:1 by the underlying stock and held by a regulated custodian, preserving rights such as dividends and redemptions.
Although S&P DJI does not support the token itself, the index provider confirmed that the Chainlink integration ensures that the data powering it meets standards of transparency and reliability.
Chainlink’s will use its decentralized oracle network to ensure the index reflects up-to-date market performance directly on blockchain protocols. Oracles are services that provide blockchains with real-world information that may be needed to inform blockchain programs such as smart contracts.
“By powering the S&P Digital Markets 50 Index, Chainlink enables one of the first indexes to operate on-chain with verifiable, real-time index data that covers both traditional and digital assets,” Fernando Vazquez, president of capital markets at Chainlink Labs, said in a statement.
The initiative is part of a broader trend of bringing TradFi instruments such as bonds, funds and stocks, often referred to as real-world assets (RWA), onto the blockchain rails.
RWA platform Centrifuge in September unveiled what it called the first on-chain licensed S&P 500 index fund, SPXA, traded on Coinbase’s Base network and managed by Centrifuge’s Janus Henderson and Anemoy.
