Blockchain Infrastructure Platform Sentrifuge has worked with S&P Dove Jones Indis (S&P DJI) for the first time to bring S&P 500 index onchain, according to a press release shared with the coinlagraph.

The cooperation token index introduces the proof-of-index infrastructure for products and will watch the first film of the first token S&P500 index fund as per the announcement.

Built on the blockchain-country platform of centrifuge, Fund uses official S&P DJI index data to offer programable index-tracking funds Smart contract,

“Today is the beginning of an exciting chapter that expands 500 ™ worldwide to new use cases and users,” said Cameron Drinkwater, the Chief Product Officer of S&P Dove Jones Indices.

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Licensed managers approved to start onchen funds

The initiative clears the way to launch onchain funds for the asset acquired assets managers that align with institutional standards using flexibility and transparency of decentralized finance.

Animoy Capital, a native of the web3, has obtained the first license for the construction of separate portfolio, Janus Henderson Animoy S&P 500 Index Fund. S&P DJI index data and centrifuge power index exposure and smart contract infrastructure.

Nick Cherne, head of Janus Henderson’s innovation, stated that his earlier token funds along with Centrifuse have received remarkable traction, in which a strategy has reached $ 1 billion assets under rapid management compared to any previous token funds.

S&P 500 is central for global markets, with more than $ 1 trillion Daily business in ETF, Derivative And other products. Bringing index onchain will allow investors to buy, catch, trade, use it as a collateral or automated portfolio strategies.

Anil Sood of Centrifuse said, “It is about taking everything learned in traditional markets and resume it with programability, transparency and global, 24/7 access.”

Tokenized S&P 500 funds will officially launch the Kentrifuge RWA summit in Cannes with the proof-off-index infrastructure of Kentrifuge on 1 July, which aims to accept the token index products.

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Utility key remains

Centrifuge’s move to bring S&P 500 Onchain comes as industry leaders Toknerization alone is not enoughKerawk CEO Kevin D Patol told the coinalgraph that the token requires “real utility”.

“If there is nothing then I can do it with property in a token form that I could not do before, it is just friction and cost,” he said.

D. Pataul stated that liquidity is also important for token markets, given that constant market creates the property of tokens into usable financial devices.

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