Decentralized computing platform Chainlink announced that it is collaborating with Fidelity International and cryptocurrency bank Sygnum to bring Net Asset Value (NAV) data on-chain.
The Fidelity, Sygnum Bank and Chainlink partnership aims to bring transparency and accessibility to net asset value data on tokenized assets.
After this collaboration, NAV data with Chainlink will be able to be accurately and securely reported and updated on-chain and across any public or private blockchain.
“We are excited to announce that Fidelity International and Sygnum have partnered with Chainlink to provide on-chain NAV data for Fidelity International's $6.9 billion money market fund.
“This is a landmark production use case for tokenized assets.”
Chainlink Co-Founder Sergey Nazarov said, “Fund tokenization is probably the biggest digital asset trend happening today and is a great confirmation that global asset management companies are entering this growing market. The global reach and efficiency benefits of tokenized funds are much greater than traditional methods and over time the entire asset management industry will operate.” It will become a shape.” said.
LINK, which has decreased by 1.3% in the last 24 hours, continues to be traded at $ 14.4 at the time of writing.
We’re excited to announce that Fidelity International and Sygnum have partnered with #Chainlink to provide NAV data onchain for Fidelity International’s $6.9B money market fund.
This is a landmark production use case for tokenized assets 🧵https://t.co/dfQ3Shgx6f pic.twitter.com/o0sT4JOQNj
— Chainlink (@chainlink) July 3, 2024
*This is not investment advice.
