Dinari, a tokenised equity provider, announced a collaboration in early November with Chainlink in a bid to bring a blockchain-focused equities index on-chain. The two, together with S&P Dow Jones Index, aim to create a tokenised index that tracks crypto-oriented companies and cryptocurrencies in one benchmark.
The announcement of this collaboration between Dinari, Chainlink, and S&P Dow Jones Index gave way to a new financial product, the S&P Digital Markets 50 index. According to reports, it is expected to go live on the chain by the end of the year. Combining traditional equities with digital assets.
As per the announcement, the main parties in this collaboration play a significant role in the product release. For instance, S&P Dow Jones Indices will offer the methodology and composition of the new product.
Dinari will play the role of tokenizing the Index using its dShares infrastructure. Chainlink balances everything through its oracles by offering real-time pricing data and verifiable updates. This will be the first time S&P brings real-time pricing using a decentralised oracle network.
Chainlink's Role in Price Feeds: Verifiability
As already mentioned, Chainlink will handle the technical side of the collaboration, mainly because of its oracle network. In this new Index, Chainlink's responsibility includes:
This collaboration is a benchmark with no delays, misrepresentations, and manipulations. With Chainlink’s presence, the initial darkness of traditional finance is turned into full transparency. Investors and institutions will rely on a transparent data layer that circulates seamlessly into Web3 platforms.
When speaking about Chainlink's role in the collaboration, the Chief Product & Operations Officer at S&P Dow Jones Indices, Cameron Drinkwater.
"The integration of Chainlink's decentralised oracle network provides a crucial intermediary for the soon-to-be-launched S&P Digital Markets 50 Index. This collaboration ensures data integrity and connectivity that will bring the S&P Digital Markets 50 Index to market in a transparent, reliable, and efficient manner."
Fernando Vazquez from Chainlink also added more info on the role of the decentralised oracle provider:
"Chainlink is enabling one of the first indexes to operate on-chain with verifiable, real-time data spanning both traditional and digital assets."
The evidence of Chainlink's reliability in on-chain data provision can be seen in the products it already supports. , Only a few days before the announcement of the S&P index collaboration, Chainlink and FTSE Russell partnered to publish global indices on-chain through Datalink, a Chainlink product.
Index Composition and Process
The Index, born out of collaboration, represents the best of TradFi and blockchain technology industries. For instance, this Index comes with 35 US-listed equities with solid activity in the digital finance space. While, S&P brings 15 top digital assets, though the Index's actual assets involved have not been disclosed.
As Dinari is into turning real-world assets into tokens on a 1:1 basis, shares backing the tokens are usually held via a regulated custodian. Once S&P Dow Jones Indices creates the composition of the Index, Dinari tokenises the entire product, Chainlink will power pricing and operational transparency by publishing the data on chain. Dinari's CEO, Gabe Otte summarised the importance of tokenised benchmarks:
"For the first time, investors can access both US equities and digital assets in a single, transparent product. On-chain standards expand the reach of trusted financial benchmarks."
After creation and tokenisation,people will be able to trade the tokenised version of the Index 24/7.
What Are KOLs Saying About The New Product
Key opinion leaders in the crypto world and finance weighed in on this new developments.
While announcing the collaboration, Fiona Bassett, the CEO of FTSE Russell in her words;
"DataLink allows FTSE Russell to securely distribute underlying data of some of our most trusted benchmarks across global on-chain markets, giving institutions and developers the same high-quality data that powers traditional finance."
Furthermore, Chainlink is already working with the U.S. Department of Commerce to publish macroeconomic data on Bitcoin, Ethereum, and Solana. In a statement, Cameron Drinkwater talked of the transformation:
"Independent, reliable, and user-friendly benchmarks are a key component of financial markets. As with traditional financial markets, independent benchmarks can help bring transparency and accessibility to the digital asset ecosystem."
Drinkwater, the industry leader, also talked of how cryptocurrencies have evolved from the sidelines into the mainstream. Now, market participants are starting to treat virtual assets as part of their portfolios, according to Drinkwater. Gabe Otte, the Dineri CEOsaid:
"Financial systems depend on trusted data and transparent infrastructure. Working with S&P Dow Jones Indices and Chainlink allows us to bring that same standard of reliability to tokenised benchmarks, ensuring the S&P Digital Markets 50 operates with integrity and verifiability on-chain."
Dinari's Chief Business Officer Anna Wroblewska also added:
"This launch shows how on-chain technology can expand the reach of established financial standards, making them more efficient and globally relevant."
A Broader Look At The Tokenisation Wave
Tokenisation, traditional assets turning into tokens, is fast expanding into the mainstream. Many platforms like Backed Finance and Robinhood have been actively issuing tokenised versions of equities.
A few months ago, Backed Finance announced the dawn of xStocks, a product that includes tokenised shares of Tesla, Apple, Nvidia, Circle, and even the S&P 500. In just about 1 month, the xStocks trading volume peaked at $2 billion. Soon after, Kraken and Backed collaborated to expand xStocks from just Solana into BNB Chain. Kraken CEO Arjun Sethi commented:
"The response to xStocks has made one thing increasingly clear — the future of capital markets will be chain-neutral, composable, and multichain by design."
Robinhood, a titan in the TradFi space, has also been speedily rushing into the tokenisation space. The network launched 200 tokenised versions of some of the most popular stocks in the US to EU customers.
The CEO of BlackRock is also in favor of tokenisation. Larry Fink actually said that the US Securities and Exchange Commission should "rapidly approve the tokenisation of bonds and stocks. Also, Coinbase, a giant in the crypto business, is already planning to expand its tokenised assets strategy.
Verifiability is the New Standard
The dawn of the S&P Digital Markets 50 Index is the dawn of a new era for capital markets. It presents a preview of what is to come when global financial data will be verified and distributed, but all on-chain.
Through their collaboration, S&P DJI, Dinari, and Chainlink introduced a new standard that unites digital assets and traditional equities within a single economy, marking a true innovation.
As 2025 nearly comes to an end, the gap between TradFi and digital markets is closing, with the two becoming one. The team-up of S&P Dow Jones Indices, Chainlink, and Dinari has significant implications for enterprises and investors. The partnership opens the door to hybrid traditional-digital products backed by S&P’s credibility. Moreover, this partnership lowers operational risks and brings 24/7 access to Wall Street-level benchmarks.
Tokenised benchmarks like the new S&P Digital Markets 50 mark only the start. Businesses and institutions that understand these mechanics early will likely be among the leaders in the tokenisation wave. uCubed is helping founders, enterprises, and investment leaders with tools to understand tokenisation and its possible future financial impact.
