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Fidelity, Sygnum, and Chainlink Partner to Bring Real-Time NAV Data Onchain

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#DeFi
$LINK
Cointelegragh
481Words
Jul 2, 2024

Fidelity, Sygnum, and Chainlink have partnered to bring the Net Asset Value (NAV) data of Fidelity’s $6.9 billion Institutional Liquidity Fund onchain, making it accessible in real time. This move contrasts traditional methods where mutual funds data is updated after each trading day. The initiative also aligns with broader trends in fund tokenization, which are seen as a significant shift in asset management. Additionally, the Depository Trust and Clearing Corporation (DTCC) conducted a Smart NAV industry pilot using Chainlink’s technology to explore transmitting NAV data onchain for broader applications.

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