Fidelity International and Sygnum Partner with Chainlink for On-chain NAV Data
Introduction
Fidelity International and Sygnum have recently announced a partnership with Chainlink to bring Net Asset Value (NAV) data on-chain. This partnership, unveiled on July 3, is a significant step towards advancing the world of tokenized assets. By leveraging Chainlink’s decentralized oracle network, the collaboration aims to enhance transparency and accessibility for fund data.
Chainlink’s Role in the Partnership
Chainlink’s decentralized oracle network will play a crucial role in handling on-chain NAV data for Sygnum’s tokenized assets. This includes supporting the on-chain representation of units of Fidelity International’s $6.9 billion Institutional Liquidity Fund. Additionally, Chainlink will also be responsible for managing on-chain NAV for Sygnum’s $50 million tokenized assets.
The Implications of the Partnership
This partnership between Fidelity International, Sygnum, and Chainlink has far-reaching implications for the world of blockchain and finance. By bringing NAV data on-chain, the collaboration offers a new level of transparency and accessibility for investors. It also paves the way for more efficient and secure handling of fund data through blockchain technology.
How This Partnership Will Affect Me
As an investor, this partnership means that accessing accurate and real-time NAV data for tokenized assets will become easier and more secure. This can potentially lead to better investment decisions and increased trust in the underlying fund data.
How This Partnership Will Affect the World
On a larger scale, this partnership signifies a greater adoption of blockchain technology in the financial sector. By bringing NAV data on-chain, the collaboration sets a precedent for increased transparency and efficiency in fund management. This could lead to wider acceptance of tokenized assets and decentralized finance solutions across various industries.
Conclusion
The partnership between Fidelity International, Sygnum, and Chainlink to bring NAV data on-chain marks a significant milestone in the world of tokenized assets. Through this collaboration, investors can expect greater transparency, accessibility, and security in handling fund data. The implications of this partnership extend beyond individual investors to reshape the future of finance and blockchain technology on a global scale.
