BitMEX, a renowned platform in the cryptocurrency space for introducing perpetual swaps, has announced a strategic partnership with Chainlink to utilize its Data Streams product. This collaboration aims to provide essential pricing data for BitMEX’s forthcoming Equity Perpetual Contracts, commonly referred to as Equity Perps. The move is touted by Chainlink as a pivotal development that will give rise to “a new generation of markets across stocks, ETFs, and much more.”
The integration of Chainlink’s oracle technology allows BitMEX to obtain institutional-grade market data necessary for this new product category. This partnership not only enhances BitMEX’s offerings but also marks a significant expansion of Chainlink’s oracle services beyond the cryptocurrency realm, delving deeper into markets involving tokenized assets and traditional equity instruments.
Data Streams delivered by Chainlink is engineered to provide continuous, sub-second pricing by aggregating data from multiple market sources. This capability is critical for perpetual contracts linked to off-chain assets, such as equities and exchange-traded funds (ETFs). Furthermore, for BitMEX, the need for high-frequency and reliable data becomes paramount as it seeks to offer Equity Perps that can be traded 24/7—even when conventional market hours conclude.
Industry experts have described this partnership as a logical progression. As derivatives platforms increasingly turn to established oracle frameworks to facilitate access to real-world asset exposure, this collaboration between BitMEX and Chainlink epitomizes that trend.
If the Equity Perps are successfully implemented, they would enable traders to speculate on the price movements of stocks and ETFs without the necessity of owning the actual shares. Instead, participants could utilize crypto-native collateral and settlement methods. Nevertheless, several uncertainties linger regarding the pricing methodology, funding rates, and how liquidity and settlement processes will be managed outside U.S. market trading hours. These factors could significantly influence the trading experience and associated risks of these new financial products.
This noteworthy development heralds potential changes in trading practices and market structure, paving the way for more innovative financial products in the digital asset space, thereby attracting both retail and institutional investors.
