S&P Digital Markets 50 Index, Chainlink on Blockchain!

S&P Digital Markets 50 Index on the Blockchain with Chainlink!

The S&P Digital Markets 50 Index marks a new milestone in the world of tokenization. Thanks to its collaboration with Chainlink (LINK), Dinari is preparing to present this index on the blockchain. The S&P Digital Markets 50 Index, expected to be operational by the end of the year, will be created by S&P Dow Jones Indices, the organization behind prestigious indices like the S&P 500 and Dow Jones.

Index Details

The index will be composed of a combination of 35 US-listed companies and 15 major digital assets. However, the full list of assets has not yet been disclosed. Dinari will facilitate the 1:1 tokenization of each asset using its tokenized stock platform dShares, allowing for the custody of shares in a regulated custodian.

Role of Chainlink

Fernando Vazquez, Chainlink’s Head of Capital Markets, emphasized the importance of the project by stating, “By supporting the S&P Digital Markets 50 Index, we aim to create one of the first on-chain indices that offers verifiable and real-time index data encompassing both traditional and digital assets.”

Rise of Tokenization

This year, the tokenization of stocks has become a significant topic. Projects that strengthen the bridges between traditional finance and crypto have garnered significant attention. For example, the tokenization company Backed has introduced the xStocks feature, allowing users to trade shares of brands like Tesla and Apple directly through centralized exchanges on the blockchain.

Additionally, Robinhood introduced its tokenized stock offering for users in Europe this summer. Coinbase is also planning to launch similar products. On Monday, FTSE Russell announced that it would integrate market index data into blockchain networks in collaboration with Chainlink.

These developments indicate significant changes in the financial world. However, all the information presented here is for informational purposes only and should not be considered as investment advice.