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Fidelity International and Sygnum Bank have partnered with Chainlink to bring Net Asset Value (NAV) data on-chain. This collaboration involves the tokenization of Fidelity International's $6.9 billion Institutional Liquidity Fund, with $50 million already tokenized on zkSync. The initiative aims to enhance transparency and accessibility for tokenized assets, marking a significant production use case for blockchain technology in traditional finance. The data will be securely and efficiently synchronized on-chain, providing advanced properties for financial products. Additionally, Sygnum has tokenized $50 million of Matter Labs' treasury reserves, held in Fidelity's fund.
We announced the Fidelity International, Sygnum, and Chainlink news at 2 AM EST because it aligned with the start of the business day in Switzerland. The announcement was made publicly on the main stage at #PZF2024 with all partners involved in the NAV Data initiative. This was… https://t.co/0qoOJk8CFk
Chainlink and Fidelity International collaborate to bring NAV data onchain “The partnership aims to enhance transparency and accessibility of key asset data for Sygnum’s newly issued onchain representation of Fidelity International’s $6.9 billion Institutional Liquidity… https://t.co/wFE62bDTwj
Chainlink and Fidelity International featured on @globalcustodian Chainlink and Fidelity collaborate to bring NAV data onchain https://t.co/Dj9kzRsEy7