In a groundbreaking collaboration, **Chainlink**, **Fidelity International**, and **Sygnum** have joined forces to pioneer the integration of Net Asset Value (NAV) data onto the blockchain. This announcement was made at the esteemed **Point Zero Forum** in Zurich.
This strategic alliance is a significant leap towards the tokenization of assets and the democratization of essential asset data. The initiative is centered around the digital representation of **Fidelity International’s $6.9 billion Institutional Liquidity Fund**, which has been recently launched by **Sygnum**.
**Sygnum** has already made strides in this domain by tokenizing $50 million of **Matter Labs’** corporate treasury reserves. These reserves are managed within **Fidelity’s International** money market fund and have been issued on the **ZKsync blockchain**.
NAV data is a cornerstone of the traditional fund industry, and with **Chainlink’s** innovative technology, it can now be precisely reported and synchronized on the blockchain. This advancement ensures secure, real-time transparency and facilitates access to historical data for **Sygnum**, its clientele, and the wider market.
**Chainlink** distinguishes itself with a “chain-agnostic approach” in disseminating NAV data, which guarantees secure transmission across various blockchains and traditional offchain systems. This approach enables applications to operate seamlessly across multiple blockchain platforms without exclusive dependence on any single one.
**Sergey Nazarov**, Co-founder of **Chainlink**, emphasized the accuracy and security that **Chainlink** brings to onchain NAV data reporting and updates. He also highlighted the burgeoning trend of fund tokenization, noting the significant implication it has as global asset management firms venture into this expanding arena.
The trend of asset tokenization is gaining momentum, bolstered by the partnership between **Chainlink**, **Fidelity International**, and **Sygnum**. In a notable development in October 2023, **Sygnum** collaborated with **Float** and **Fasanara Capital** to unveil a novel tokenized private debt instrument, thereby broadening access to private debt markets. This token was introduced by **Float** on the **Polygon blockchain**, reflecting the growing interest in tokenization within private markets, especially in private debt.
As fund tokenization continues to flourish, this collaboration sets a new benchmark for the fusion of traditional finance with blockchain technology, heralding a future of a more interconnected and streamlined financial ecosystem.
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