Tokenized equity specialist Dinari is tapping oracle network Chainlink LINK$14.92 for pricing data to bring the S&P DJI’s upcoming crypto-focused index onchain, the firms told CoinDesk on Wednesday.
The S&P Digital Markets 50 Index will track 35 public companies involved in blockchain tech and 15 top cryptocurrencies. Dinari will create a token of the index using its “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 held by a regulated custodian, preserving rights such as dividends and redemptions.
While S&P DJI is not backing the token itself, the index provider confirmed that Chainlink’s integration ensures the data powering it meets standards for 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 which supply blockchains with information from the real world that may be required to inform blockchain programs like smart contracts.
“By powering the S&P Digital Markets 50 Index, Chainlink is enabling one of the first indexes to operate onchain with verifiable, real-time index data that spans 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 equities, often called real-world assets (RWA), onto 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 managed by Janus Henderson and Centrifuge’s Anemoy.