Fidelity, Sygnum, and Chainlink collaborate to put NAV data on-chain

ChainCatcher news, Chainlink announced a partnership with Fidelity International and Sygnum to bring the net asset value (NAV) data of Fidelity's $6.9 billion institutional liquidity fund on-chain in real-time. NAV measures the value of a fund's assets minus its liabilities, and by going on-chain, it allows for real-time access, which is more efficient compared to traditional methods. Sygnum's clients will be able to access this data.

Recently, Sygnum tokenized Matter Labs' $50 million funding as part of its strategy to bring reserves on-chain.

In May, DTCC's Smart NAV pilot project also utilized Chainlink's Cross-Chain Interoperability Protocol (CCIP).