Tokenized stock specialist Dinari leverages oracle network Chainlink link$14.92 The companies told CoinDesk on Wednesday about pricing data for S&P DJI’s upcoming crypto-focused index on-chain.
The S&P Digital Market 50 Index tracks 35 publicly traded companies involved in blockchain technology and the top 15 cryptocurrencies. Dinari will utilize the dShares service to create index tokens, allowing investors to gain exposure to traditional financial (TradFi) and crypto markets through a single digital asset. Each d-Share is backed 1:1 by the underlying stock and held by a regulated custodian, preserving rights such as dividends and redemption.
While S&P DJI does not endorse the token itself, the index provider has confirmed that the Chainlink integration ensures that the data underpinning it meets standards of transparency and authenticity.
Chainlink uses a decentralized oracle network to ensure that its index reflects the latest market performance directly into the blockchain protocol. An oracle is a service that provides the blockchain with information from the real world that is needed to inform blockchain programs such as smart contracts.
“By powering the S&P Digital Market 50 Index, Chainlink enables one of the first indices to operate on-chain with verifiable real-time index data across both traditional and digital assets,” Fernando Vazquez, President of Capital Markets at Chainlink Labs, said in a statement.
This effort fits into a broader trend of bringing TradFi products such as bonds, funds, and stocks, often referred to as real-world assets (RWA), to blockchain rails.
In September, RWA platform Centrifuge announced what it called “SPXA,” the first licensed on-chain S&P 500 index fund that trades on Coinbase’s Base network and is managed by Janus Henderson and Centrifuge’s Anemoi.
