DTCC cooperates with Chainlink to provide on-chain data integration services! JPMorgan also participates

The Depository Trust and Clearing Corporation (DTCC) has partnered with Chainlink, a leader in cross-chain transfer protocols, to enter the digital asset field. The Smart NAV pilot it launched uses blockchain technology to improve data dissemination in the financial market and explore new opportunities for financial services through the integration of digital assets.

Smart NAV Goals and Partners

DTCC cooperates with Chainlink to enter the digital asset field. It announced the Smart NAV pilot report, successfully used blockchain technology to improve data dissemination in the financial market, and further hopes to explore new opportunities in financial services through the integration of digital assets.

Industry partners participating this time include well-known Wall Street giants such as BNY Mellon, JPMorgan, Franklin Templeton, Invesco, and State Street.

MFPSI provides on-chain data integration for fund companies

DTCC’s Mutual Fund Profile ServiceI (MFPSI) is an automated solution provided to fund companies to provide prices and data to their intermediaries. Interest rate data, serving more than a thousand customers.

This Smart NAV pilot has expanded its back-end data flow (right side of the figure below). In addition to being sent through the existing pipeline, the data is also transformed so that it can be transmitted through Chainlink’s signature transmission protocol. CCIP (Cross-Chain Interoperability Protocol) transmits each other on the blockchain (either private or public).

The pilot demonstrates that by passing structured data on-chain and establishing standard roles and processes, underlying data can be integrated into a variety of on-chain applications, including tokenized funds and smart contracts that manage multiple fund data. This functionality not only supports future industry exploration but also enables many downstream applications such as brokerage portfolio management tools.

In addition, the pilot also points out the additional benefits of real-time, automated data dissemination and seamless browsing of historical data. This also helps improve operational efficiency and supports the creation of innovative financial products and services. By embedding trusted data on-chain, DTCC paves the way for a more reliable and transparent financial ecosystem.

Future Outlook

With the success of the pilot, DTCC also sees the potential for the expansion of blockchain technology. Future exploration could apply its technical capabilities to more applications beyond the dissemination of price and interest rate data, further driving innovation and efficiency in financial services.

The Smart NAV pilot represents a major step towards integrating blockchain technology with financial market infrastructure. By enabling the dissemination of trusted, verifiable data on various blockchains, DTCC and Chainlink are opening new paths for innovation in the asset management field. As the industry continues to move toward applications such as tokenized funds, the insights gained from this pilot will be important in shaping the future of digital asset integration in financial services.

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