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Sygnum and Fidelity International are utilizing Chainlink’s technologies to incorporate real-time net asset value (NAV) data from the Fidelity Institutional Liquidity Fund, which totals $6.9 billion. This partnership employs blockchain to deliver immediate access to financial information.
Sygnum, a worldwide network of digital banks, and Fidelity International, an American holding entity, have teamed up with Chainlink, a creator of decentralized blockchain oracle networks. This collaboration seeks to utilize distributed ledger technology (DLT) to enhance access to financial data.
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As part of this initiative, net asset value (NAV) data from the Fidelity Institutional Liquidity Fund will be migrated to the blockchain through Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Consequently, Sygnum’s clients will be able to access this data. This method will facilitate real-time updates of financial information. Therefore, Sygnum’s clients will receive current NAV data from Fidelity, updated significantly quicker than conventional systems that refresh only at the conclusion of each trading day.
NAV is a financial indicator that determines the value of an investment fund’s assets after subtracting its liabilities, divided by the total number of shares outstanding.
Recently, the potential of utilizing the CCIP, introduced by Chainlink in 2023, for effective data transmission of net asset values through DLT systems was evaluated by the Depository Trust & Clearing Corporation (DTCC). Previously, Chainlink’s innovations were also utilized by Vodafone for managing financial transactions and document exchanges between IoT devices.
Сообщение Chainlink Expands Financial Data Migration to Blockchain появились сначала на CoinsPaid Media.
