Crypto: New Chainlink Release 24/5 Us Equities Data Streams For Tokenized...

Crypto companies and traditional exchanges have been rushing to offer round-the-clock stock and ETF trading using blockchain-based technology.

Crypto infrastructure company Chainlink is set to roll out support for 24/5 trading of US stocks and exchange-traded funds (ETFs), which it says could help bring parts of the roughly $80 trillion US equities market on-chain.

Chainlink said on Tuesday that its 24/5 US Equities Streams will be added to its existing market data services aimed at crypto platforms, which will bring “fast and secure market data across all major US equities and ETFs — 24 hours per day, 5 days per week.”

It added that the product allows crypto platforms to support trading, lending or derivatives referencing tokenized stocks and ETFs beyond standard US trading hours.

Crypto and traditional exchanges have been racing to offer around-the-clock trading of the US market, including on the weekends, as demand for US stocks and commodities has risen worldwide.

Chainlink said that US equities “remain significantly underrepresented on-chain” as they “trade across fragmented sessions during dedicated market hours,” instead of all the time as cryptocurrencies do.

“As onchain markets mature and global participation grows, such as via equity perps, there is increasing demand for continuous, high-fidelity equity data that reflects real-world market dynamics at all times, beyond just standard trading hours,” it added.

Chainlink said at least eight crypto protocols are already using its new data streams, including Lighter, BitMEX, ApeX, HelloTrade, Decibel, Monaco, Opinion Labs and Orderly Network.

The New York Stock Exchange said on Monday that it is developing a new blockchain-based platform for the 24/7 trading and instant settlement of tokenized stocks and ETFs.

Related: State Street rolls out new crypto tokenization tools

Source: CoinTelegraph