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# FTSE Russell Collaborates with SonarX to Introduce Digital Currency Indexes
FTSE Russell, a prominent international index supplier, is joining forces with blockchain data infrastructure company SonarX to broaden its digital asset products.
This cooperation will incorporate data from more than 100 blockchains, including network essentials, token supply, staking, and DeFi metrics, into FTSE Russell’s financial indexes and data products.
This alliance demonstrates the increasing pattern of incorporating blockchain data into conventional finance. FTSE Russell intends to utilize SonarX’s data to develop indexes specifically for institutional investors, catering to the rising need for digital asset exposure.
Based in London, FTSE Russell is well-known for developing indexes that monitor various elements of the UK financial market. Its flagship FTSE 100 Index, which tracks the 100 largest firms by market capitalization in the UK, operates similarly to the S\&P 500 in the United States.
## Digital Currency Indexes
Indexes function as benchmarks for assessing market performance or specific asset classes, providing investors with a standardized method to measure growth and allocate capital.
Jesse Bornstein, Global Head of Business Development at SonarX, stated, “Indexes are the foundation of effective financial markets, and high-quality data is the bedrock upon which indexes are constructed.”
This partnership emphasizes how traditional finance is adjusting to new technologies. Blockchain, a decentralized digital ledger that powers cryptocurrencies like Bitcoin, is becoming an essential component of the financial ecosystem.
By incorporating blockchain data into indexes, FTSE Russell seeks to make it simpler for investors to access the digital asset market. Decentralized finance (DeFi), which employs blockchain to deliver financial services without intermediaries such as banks, is also a primary area of emphasis.
This alliance underscores the increasing effect of distributed ledger tech within the worldwide monetary sphere, uniting SonarX, specialists in digital ledger data, and FTSE Russell, a frontrunner in monetary benchmarks. This teamwork is anticipated to reveal exceptional investing prospects within the virtual financial system.
