Chainlink has unveiled their new data streams that will enable the 24/5 trading of US stocks and exchange-traded funds (ETFs). This move should help the onchain access to traditional financial markets.
According to the crypto infrastructure firm, the service will provide fast and secure price data for the major US equities and ETFs and will be available 24 hours a day, 5 days a week. The product is targeted at crypto platforms that provide trading, lending, or derivatives with tokenized stocks and ETFs that fall outside of regular US market hours.
Bringing US Equities Closer to Onchain Markets
Chainlink claimed that US equities are still “significantly underrepresented onchain” as they are traded in limited market sessions. On the contrary, cryptocurrencies are traded continuously. The company also mentioned that with the growth of on-chain markets and global participation, the demand is increasing for high-quality equity data that reflects real-world market activity beyond standard trading hours.
Chainlink has reported that at least eight crypto protocols are already utilizing the new data streams including Lighter, BitMEX, ApeX, HelloTrade, Decibel, Monaco, Opinion Labs, and Orderly Network.
Your completely free resource hub designed to boost your knowledge of cryptocurrencies
Push Toward Always-On Markets Gains Momentum
The move comes as one of the factors that will predominantly decide the winners in the crypto and traditional exchanges are the ones that provide their customers round-the-clock access to US assets. New York Stock Exchange announced on Monday that it is working on a blockchain-based platform to enable the 24/7 trading and instant settlement of tokenized stocks and ETFs.
The regulators in the US are also investigating the possibility of always-on markets. In September, the Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they were looking into allowing markets to operate continuously.
