S&P Dow Jones Indices, a division of US financial data provider S&P Global, said it would launch cryptocurrency indexes in 2021.
Products under the s&P DJI brand will use data from New York-based Lukka for more than 550 of the most traded coins, one of the most well-known global index providers explained.
In a joint statement, the companies said that S&P clients would work with the firm to create individual indexes and other benchmarking tools for digital currencies.
“As digital assets such as cryptocurrencies become a rapidly developing asset class, it is time for independent, reliable, and user—friendly benchmarks,” said Peter Roffman, Director of innovation and strategy at S&P Dow Jones Indices.
Lukka CEO Robert Materazzi believes that their collaboration is another step towards reducing the gap between the crypto asset ecosystem and traditional financial services.
“In a fast-growing industry, it is critical to meet institutional standards when working with reputable brands like S&P DJI,” he added.
Lukka is thrilled to help drive ongoing innovation in collaboration with @SPDJIndices! S&P DJI will provide S&P DJI-branded & customized indexing & benchmarking solutions supported by Lukka’s leading crypto asset pricing data. Read the full article: https://t.co/62DbNXAJ0N
— Lukka (@LukkaTech) December 3, 2020