While partnerships in the cryptocurrency market are increasing day by day, the latest news came from the popular altcoin Chainlink.
Accordingly, Oracle service provider Chainlink (LINK) announced its collaboration with Depository Trust and Clearing Corporation (DTCC), the world's largest payment system.
Chainlink and DTCC stated in their statement that they will work with several top financial banks in the United States to increase the tokenization of traditional financial funds.
DTCC announced that it is running the Smart NAV Pilot program with the aim of standardizing the way funds provide NAV data across different blockchain platforms by leveraging Chainlink's Cross-Chain Interoperability Protocol (CCIP).
DTCC said leading US banking firms participating in the pilot program include American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and US Bank.
Following this announcement, the LINK price experienced a strong increase. In the last 24 hours, the LINK price increased by an impressive 19% to $16.4.
*This is not investment advice.
