CF Benchmarks, which prepares the price indexes used in BlackRock’s Bitcoin ETF, has entered the blockchain data market with a new service, competing with projects such as Chainlink and Pyth.
According to CoinDesk, CF Benchmarks, part of Kraken parent company Payward, has launched a service called CFB Oracle. The company is now making the price benchmarks used by major financial institutions available to applications developing investment products on blockchains.
CF Benchmarks’ indexes are used in products such as BlackRock’s Bitcoin ETF and CME Group’s crypto futures. According to the company, products based on these indexes represent more than $120 billion in assets in total.
Stock and bond prices are also coming to blockchains
The new service is not limited to cryptocurrencies; it also covers stock, bond, commodity, and foreign exchange indexes. Using this data, developers can design on-chain index funds, tokenized portfolios, and derivatives without building their own pricing infrastructure.
For example, a fund holding tokenized stocks could use these prices to calculate the value of its portfolio. A lending application that accepts bonds as collateral could use the same data to determine how much a user can borrow and when their position would be liquidated.
CFB Oracle is currently available on Ethereum, HyperEVM, and Robinhood Chain. Support for other compatible networks is also planned for the future.
A new rival for Chainlink and Pyth
With this move, CF Benchmarks is competing with Chainlink and Pyth in the oracle sector, which delivers data from the outside world to blockchain applications. The company digitally signs price data, allowing applications to verify that the data came from CF Benchmarks and has not been altered. Every index is made available to all customers at the same frequency; there is no separate fee for faster access.
Payward is among the service’s planned users. The company aims to use CFB Oracle price data in a perpetual futures product it plans to offer in the U.S. using Hyperliquid infrastructure. The regulatory approval process for the product is ongoing.
Not investment advice.