Chainlink announced that it is partnering with Fidelity International and crypto bank Sygnum.
Decentralized computing platform Chainlink announced that it is partnering with Fidelity International and crypto bank Sygnum to bring data Net Asset Value (NAV) up the chain.
Partnership between Fidelity, Sygnum Bank and Chainlink aims to bring transparency and accessibility to net asset value data on tokenized assets.
After this collaboration, NAV data will be able to be reported, updated accurately and securely on-chain and on 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 groundbreaking use case for tokenized assets.”
Chainlink co-founder Sergey Nazarov said, “Tokenization of funds is probably the biggest digital asset trend happening right now and is a great confirmation that global asset management firms are getting into this market.”
LINK, which has dropped 1.3% over the past 24 hours, continues to trade 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
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