CF Benchmarks Launches Oracle for 177 Indexes Across Three Networks

CF Benchmarks launched CFB Oracle Tuesday, giving blockchain applications across three networks a way to verify signed values for 177 indexes used as financial reference points.

The service delivers signed index values through an API. In the live pull model, an application includes a signed value in a blockchain transaction sent to a verifier contract. The contract checks whether CF Benchmarks produced the value before an application uses it.

A push model, which would send values directly to an oracle contract, remains in development. The indexes and their methodologies are existing products; CFB Oracle adds a way to deliver and verify them onchain.

Potential uses include tokenized portfolios, onchain index funds, derivatives and lending products. In those products, index values can help calculate portfolio valuations, margin requirements or liquidation levels. A commercial license is required to use CF Benchmarks indexes in a product.

The BlackRock connection is an existing benchmark relationship. The iShares Bitcoin Trust ETF (IBIT) uses the CME CF Bitcoin Reference Rate-New York Variant, administered by CF Benchmarks, to value its Bitcoin (BTC) holdings. The fund values its Bitcoin holdings using that benchmark, which is calculated as of 4 p.m. ET on business days.

CME Bitcoin futures settle against the related CME CF Bitcoin Reference Rate, a distinct benchmark set at 4 p.m. London time. On Oct. 27, that was noon ET (1600 UTC).

Products referencing CF Benchmarks indexes account for more than $120 billion in assets. Payward, the parent company of Kraken, plans to use CFB Oracle as the spot index provider for a forthcoming U.S. perpetual futures product powered by Hyperliquid. The product remains subject to regulatory approval.

“CFB Oracle was the natural choice as the spot index provider for our forthcoming onchain perps for US clients, powered by Hyperliquid,” said Jon Pham, Payward’s head of U.S. derivatives.