Chainlink, Dinari Team Up to Tokenize S&P Digital Markets 50 Index With Real-time Pricing

Tokenized equity provider Dinari is collaborating with Chainlink to bring a new blockchain focused equities index on-chain, the firm announced on Wednesday.  The S&P Digital Markets 50 Index built by Dinari with the help of index provider S&P Dow Jones Indices—the maintainer of the S&P 500 and the Dow Jones indices—is expected to start before the end of the year. 

“By powering the S&P Digital Markets 50 Index, Chainlink is enabling one of the first indexes to operate on-chain with verifiable, real-time index data that spans both traditional and digital assets,” Chainlink’s Capital Markets President Fernando Vazquez said in a statement.  The index is built with 35 U.S. listed firms that have connections to blockchain and 15 major digital assets. However, an official list of assets has not been published yet.

After the index is created, Dinari will tokenize it using its tokenized equities platform, dShares, ensuring that every asset inside the index is tokenized in a 1:1 ratio, with shares held with a regulated custodian.  Chainlink’s network will then provide real-time pricing and performance data, creating a transparent on-chain benchmark to match the off-chain index. “Financial systems depend on trusted data and transparent infrastructure,” Dinari co-founder and CEO Gabe Otte said.