Tradeweb and Chainlink announced a partnership today that will publish Tradeweb’s FTSE U.S. Treasury Benchmark Closing Prices on-chain using DataLink, Chainlink’s institutional-grade data publishing service. The move is designed to make reliable, executable Treasury benchmark prices available to on-chain markets in real time, helping bridge a long-standing gap between traditional fixed-income markets and tokenized finance.
The collaboration aims to give institutions greater flexibility and transparency when using U.S. Treasury data, one of the world’s deepest and most traded asset classes, by ensuring benchmark prices are consistently accessible on blockchains. Tradeweb’s benchmark closing prices, which are registered under EU and UK Benchmark Regulation and serve as the official closing levels for FTSE’s World Government Bond Index, will now be publishable to on-chain applications without data owners needing to build or maintain their own blockchain infrastructure.
“Tokenization represents one of the fastest-growing opportunities in our markets today, and our collaboration with Chainlink is a significant step forward in modernizing traditional financial markets through blockchain applications,” said Chris Bruner, Tradeweb’s Chief Product Officer. “By making our Tradeweb FTSE U.S. Treasury Benchmark Closing Prices available on-chain, we aim to unlock new opportunities for innovation and 24/7 access across the global financial ecosystem.”
Chainlink co-founder Sergey Nazarov framed the deal as a major signal for institutional adoption of tokenized products. “As one of the world’s leading electronic marketplaces used by institutional investors, I’m very excited about our collaboration with Tradeweb as it is a strong signal that the adoption of tokenized finance is accelerating,” he said.
Nazarov noted that DataLink enables Tradeweb to deliver institutional-grade market data on-chain and that the partnership can help spawn a new generation of tokenized funds and other financial products with the reliability and compliance institutions expect.
Advancing Tokenized Finance Adoption
DataLink uses Chainlink’s proven oracle infrastructure to securely connect data providers and on-chain protocols. As a turnkey service, DataLink lets data owners publish market data to multiple blockchains without deploying new systems, while Chainlink’s wider stack supplies interoperability, compliance primitives and the resilience that has underpinned much of the on-chain economy for more than five years. Chainlink’s infrastructure has been credited with enabling tens of trillions of dollars in transaction value and actively securing nearly $100 billion in DeFi total value locked.
Tradeweb’s FTSE U.S. Treasury Benchmark Closing Prices are distinct from the firm’s composite price displays. While composite prices give indicative market levels from aggregated quotes, the benchmark closing prices are derived from executable pricing levels on the Tradeweb platform. The data set covers a broad cross-section of U.S. Treasuries, notes, bonds, bills, STRIPS and Treasury Inflation-Protected Securities, with benchmark levels collected at both 3:00 p.m. and 4:00 p.m. New York time.
As the first data publisher to adopt DataLink, Tradeweb joins a Chainlink ecosystem that already supports more than 2,000 on-chain applications as well as major banks, asset managers and infrastructure providers across some 60 public and private blockchains. For Tradeweb, which serves more than 3,000 clients across more than 85 countries and averaged over $2.4 trillion in notional value traded per day across the last four fiscal quarters, the step represents a pragmatic front door into tokenized markets and an extension of its market-data franchise into always-available, programmatic environments.
Market participants say the practical benefits are straightforward: tokenized funds, automated settlement, on-chain derivatives and a range of smart-contracted products can now reference a regulated, executable Treasury benchmark without intermediary conversions or bespoke feeds. For a market where price integrity and regulatory compliance matter, putting benchmark closing prices on-chain could accelerate the creation of institutional grade tokenized products while giving investors and protocol engineers confidence that on-chain references reflect real, executable market levels.
Tradeweb Markets Inc. (Nasdaq: TW), founded in 1996, operates electronic marketplaces for rates, credit, equities and money markets and provides trading, data, analytics and post-trade services across more than 50 product types. Chainlink, the decentralized oracle standard, supplies the connectivity that many institutional tokenization efforts now require, a combination that this partnership will help bring traditional capital markets data into the new world of on-chain finance.
