New service gives banks a live view of 200 crypto platforms
Dune brings real-time crypto trading from over 200 platforms to banks, while tokenized stocks are growing and large companies worldwide are objecting.
Blockchain analytics firm Dune has launched a new service that allows banks and large investors to track crypto transactions almost instantly. The system collects data from over 200 trading platforms on twelve blockchains. This makes it easier for traditional financial institutions to become active in the crypto market.
The new service processes trade data within about one second. The system supports Ethereum (ETH), Solana (SOL), Base and X Layer, among others.
Banks and investment funds can use this to compare prices, trading volumes and transactions on different crypto platforms. The trading of futures contracts on Hyperliquid and Lighter is also monitored.
According to Dune CEO Fredrik Haga, several banks, asset managers and trading companies are already using the service. He does not want to say which institutions are involved because of confidentiality agreements.
Haga expects that large financial institutions will increasingly trade directly via blockchains in the future. According to him, this requires improving trading opportunities and clarifying the rules.
The launch comes at a time when the tokenized stock market is growing strongly. These are digital versions of ordinary shares that can be traded via a blockchain.
According to RWA.xyz figures, the total value of these shares increased from $627 million to $3.58 billion in one year. That's a growth of about 470 percent.
Large companies are also taking steps in this market. For example, crypto exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, are working on a platform for tokenized shares.
However, those plans raise resistance. Sixteen publicly traded companies, including Microsoft, Alphabet and Goldman Sachs, have objected.
Another problem is that the same shares can be offered on different blockchains. As a result, price differences can arise and trading costs can increase.
Dune aims to combat this fragmentation by bringing together the trading data of hundreds of platforms. This gives banks and investors a better overview of the fast-growing market.