Chainlink Boosts BitMEX’s New U.S. Stock Perpetuals Market

BitMEX has integrated the Chainlink Data Streams to drive the pricing of its new equity perpetual contracts. On Tuesday, the exchange announced the update. The shift introduces significant U.S. stocks to the 24/7 trading platform of crypto. It also gives Chainlink the role of providing quick and accurate price feeds to leveraged markets.

BitMEX currently provides perpetual contracts based on Apple, Nvidia, Tesla, and Amazon assets. It also incorporates such indexes as the S&P 500 and Nasdaq. Cryptos can be used by traders as collateral. They are allowed to go long or short and use leverage up to 20x. The contracts are not expired, and it is possible to trade on the weekends and on holidays.

The formation of price in U.S. market hours is based on live equity data. The off-hours pricing applies to the tokenized stock markets and exchange liquidity. Chainlink has the purpose of anchoring prices in both states. The design specifically minimizes the use of a single source of data. Additionally, it helps limit the risk of manipulation during times of low liquidity.

Chainlink Enhances Precision for Equity Perpetuals

According to BitMEX, the integration facilitates precision in any kind of asset shortly associated with regulated equity markets. The exchange also added that high leverage means it needs consistent data provision. The design of Chainlink feeds ensures stability even during rapid market fluctuations. This renders the system to be applicable to volatile and continuous trading purposes.

This development comes at a time of increased interest in tokenized equities. Additionally, Bitget reported over $1 billion in spot sales of tokenized stocks. The exchange reports that the month of December accounted for 95% of this activity. The xStocks platform of Kraken has over $10 billion worth of combined exchange volume.

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Bitget CEO Gracy Chen remarked that the December surge was in line with the active trading in U.S. equities. She said that AI-related themes and enhanced technology performance favored greater engagement. She also added that access to traditional assets on the blockchain is becoming a core element of the market structure.

Tokenized Assets Gain Traction Across Major Exchanges

Other larger exchanges, such as Coinbase, are considering such tokenized integrations of assets. The trend is a part of a bigger change to the integration of traditional financial instruments with crypto-based systems. The market participants consider such products to provide access to many and ensure settlement processes are efficient.

Chainlink asserted that they selected the Data Streams product because of its speed and reliability. According to the company, perpetual equity needs accurate pricing. It also added that instituted markets cannot accommodate delays or irregularities. 

BitMEX has perpetual equity in a Panamanian company. The currency of the exchange is in cash-settled structures. The company claimed that this system did not face legal challenges related to the explicit tokenization of shares. 

BitMEX has also mentioned that such a strategy contributes to compliance in various regions. According to Chen, regulatory differences are not unexpected and determine the expansion of opportunities for such products to exchanges.

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