Space and Time, the data blockchain securing onchain finance, today released version 2 of its mainnet, which allows institutional customers to secure offchain asset data for tokenized assets.
As institutions continue to pursue stablecoins and tokenized real-world assets, more and more offchain financial data is connected to onchain value. Until now, many of these institutions were simply connecting their data onchain through centralized, legacy infrastructure, which presents significant risk to the integrity of the assets.
If the data behind a tokenized asset is wrong, stale, or tampered, the value of that asset can be mispriced and settlements can execute incorrectly. While in traditional finance this would trigger a trade break, it’s irreversible onchain. Data security is a core requirement for institutional scale tokenization.
Space and Time now allows banks, asset managers, exchanges, and enterprises to verify and securely connect offchain financial data to smart contracts to power more sophisticated and reliable assets onchain.
“In order for financial institutions to move real value onchain, the data powering tokenized assets must be handled with the same security as the assets themselves. Space and Time v2 gives these customers a way to securely connect offchain financial data to onchain value so they can deliver sophisticated financial products with institutional-grade security,” said Scott Dykstra, co-founder of Space and Time.
Space and Time data solutions have already been adopted by some of the largest enterprises and institutions in the world, including major banks and Microsoft, who added Space and Time data to its Fabric product earlier this year. The v2 upgrade expands the capabilities available to customers who are developing institutional tokenization and stablecoin initiatives.
This new feature is now permissionlessly available on Space and Time.
About Space and Time
Space and Time is the data blockchain securing onchain finance. Backed by Microsoft’s M12, Space and Time provides institutions, enterprises, and financial apps a secure platform for connecting data onchain to power tokenized assets, stablecoins, and global markets.