Key Takeaways:
- Real-Time NAV Data: Fidelity International and Sygnum have partnered with Chainlink to make the $6.9 billion Institutional Liquidity Fund’s Net Asset Value (NAV) accessible onchain in real time.
- Enhanced Transparency: The initiative enhances transparency and accessibility, providing real-time NAV data that is typically updated only after each trading day.
- Broader Potential: DTCC’s pilot using Chainlink’s protocol for onchain NAV data indicates broader future applications in asset management.
Fidelity International and Sygnum have partnered with Chainlink to make the Net Asset Value (NAV) of Fidelity’s $6.9 billion Institutional Liquidity Fund accessible onchain in real time.
This initiative, announced on July 3, aims to provide real-time NAV data, which is typically updated only after each trading day, enhancing transparency and accessibility.
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.
— Chainlink (@chainlink) July 3, 2024
This is a landmark production use case for tokenized assets 🧵https://t.co/dfQ3Shgx6f pic.twitter.com/o0sT4JOQNj
This data will be available to Sygnum’s clients, complementing their recent tokenization of $50 million from Matter Labs’ treasuries.
Chainlink co-founder Sergey Nazarov highlighted that fund tokenization is a significant trend, offering greater efficiency and poised to become standard in asset management.
Additionally, the Depository Trust and Clearing Corporation (DTCC) conducted a pilot using Chainlink’s protocol to explore onchain NAV data applications, suggesting broader potential for future use cases.
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