Put tokenized net asset value (NAV) data on the chain! Fidelity, Sygnum partner with Chainlink

Chainlink, the leading oracle machine, announced on Twitter that it has reached a cooperation with Fidelity International and crypto bank Sygnum to bring the net asset value (NAV) data of tokenized assets to the blockchain, providing instant access to data. sex and transparency.

Fidelity, Sygnum and Chainlink cooperate

Sygnum’s official announcement pointed out that Chainlink’s cooperation with Fidelity and Sygnum aims to improve the transparency of net asset value (NAV) data in tokenized assets and the immediacy of data updates. Say goodbye to the past inefficient method of updating statistical data after the close of each trading day in traditional financial markets.

It is reported that NAV is a financial indicator. The net value (NAV) of the fund can be determined by subtracting its liabilities from the fund's assets and dividing it by the number of outstanding shares.

Fidelity stated that this cooperation will enable the company’s more than $6.9 billion institutional investor liquidity fund data to be checked in real time on the blockchain.

This also includes the US$50 million corporate financial reserves held by Sygnum and tokenized by zkSync development company Matter Labs: NAV data is a key component supporting the current traditional fund industry, and with Chainlink’s technology, NAV Data can be accurately disclosed, synchronized, and viewed on the ZKsync blockchain (Chainlink SCALE plan) in an automated and secure manner.

Chainlink co-founder Sergey Nazarov also emphasized in the joint statement: Fund tokenization may be the biggest digital asset trend today, which fully proves the fact that global asset management companies are entering the market.

And added, "The efficiency advantages of tokenized funds far exceed traditional methods, and their global coverage continues to grow, and will gradually become the operating method of the entire asset management industry."

Pilot program in cooperation with DTCC

This year 5 In August, Chainlink also completed a pilot program called "Smart NAV" with the Depository Trust and Clearing Corporation (DTCC), using blockchain technology to increase the speed and popularity of data dissemination in the financial market, and hopes to further integrate digital assets. , exploring new opportunities in financial services.

It is reported that the plan is to explore the Mutual Fund Information Service I (MFPSI) for DTCC to transmit "price and interest rate" data through Chainlink's Cross-Chain Interoperability Protocol (CCIP).

It is worth mentioning that program participants also include well-known Wall Street giants such as BNY Mellon, JP Morgan, Franklin Templeton, Invesco, etc.

Last month, Chainlink also commented on the technical failure of the New York Stock Exchange (NYSE) and took the opportunity to promote its own products: the decentralized oracle network invented by Chainlink can reduce these problems by providing accurate, tamper-proof data. risk. By utilizing data from multiple sources and using a consensus mechanism to verify information, the possibility of erroneous transactions and price manipulation events is reduced.

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