Leading web3 solution provider, Chainlink has launched Data Streams for onchain US equities and ETFs. The firm confirmed the unveiling on Monday via a post on its official page on X.
Chainlink, in the statement, described the new solution as real-time and high-throughput market data to support tokenized financial products. By that, popular assets from the traditional finance sector like SPY, CRCL, QQQ, NVDA, AAPL, and MSFT now have an on-chain data pool.
More so, the company added that Data Streams supports more than 37 different blockchain networks. Chainlink also discussed how the new Data Streams will open up new use cases like “tokenized stock trading, perpetual futures, and synthetic ETFs.”
In the statement, Chainlink emphasized the growing synergy between traditional finance and blockchain technology. According to the firm, tokenized real-world assets now control a market size that exceeds $275 billion.
The company said that despite the growth, tokenized assets are vulnerable to vices like mispricing, unfair liquidation, and regulatory gaps. Additionally, Chainlink added that it introduced the new Data Streams to address some of these issues by offering unmatched reliability and data richness.
Emphasizing its reliability, Chainlink disclosed that the new solution is backed by its “battle-tested infrastructure and robust data aggregation.” With this backing, the newly-launched Data Streams promises secure, low-latency, and highly available market data, enabling protocols to mitigate manipulation, detect scale data, and uphold logic integrity.
Side notes
Meanwhile, Chainlink revealed that the latest Data Streams have been adopted by renowned DeFi protocols like GMX, Kamino, and GMX-Solana. Jone Zee, an executive of GMX described the Data Streams for equities and ETFs as a landmark achievement in expanding decentralized finance beyond crypto assets.
Jone Zee opined that the Data Streams will avail new trading opportunities while improving platform security and users’ trust. Similarly, Johann Eid, the Chief Business Officer of Chainlinks Labs also said the innovation will help close the key gap between traditional finance and blockchain infrastructure.
Chainlink has continued to build its reputation as one of the leading blockchain technology firms creating more pathways for TradFi in the web3 space. In June, Chainlink made history alongside Ondo Finance and JPMorgan-backed Kinexys to complete the first crosschain delivery versus payment (DvP) settlement.
Thanks to this initiative, the company is laying the foundation for the seamless transfer of tokenized assets across different blockchain networks. The development surfaced shortly after Chainlink upgraded its Data Streams for high throughput.
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