Fidelity and Sygnum Utilize Chainlink for On-Chain NAV Data
Chainlink has partnered with Fidelity International and Sygnum to bring Net Asset Value (NAV) data onchain, enhancing transparency and real-time data access for Fidelity’s $6.9 billion Institutional Liquidity Fund. This initiative aims to provide more efficient and accessible NAV reporting by utilizing Chainlink's decentralized oracle technology. The data will be available to clients of both Fidelity and Sygnum, marking a significant step in integrating traditional finance with blockchain technology.
This partnership also aligns with a broader industry trend towards tokenization, as mainstream institutions explore the benefits of blockchain for asset management. The Depository Trust and Clearing Corporation (DTCC) has expressed interest in expanding its Smart NAV industry pilot, which used Chainlink’s Cross-Chain Interoperability Protocol (CCIP), to support a wider range of use cases across various blockchains. By enabling secure storage and automated synchronization of NAV data on the ZKsync blockchain, this collaboration underscores the growing demand for onchain assets and the potential of decentralized finance (DeFi) to transform traditional financial systems.
