{"id":33509,"date":"2024-07-03T07:09:11","date_gmt":"2024-07-03T07:09:11","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/chainlink-teams-up-with-fidelity-and-sygnum-to-bring-nav-data-onchain\/"},"modified":"2024-07-03T07:09:11","modified_gmt":"2024-07-03T07:09:11","slug":"chainlink-teams-up-with-fidelity-and-sygnum-to-bring-nav-data-onchain","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/chainlink-teams-up-with-fidelity-and-sygnum-to-bring-nav-data-onchain\/","title":{"rendered":"Chainlink teams up with Fidelity and Sygnum to bring NAV data onchain"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645202284090-5e62b88d-1045-437b-b0f6-eecbaa66ea49-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645202284090-5e62b88d-1045-437b-b0f6-eecbaa66ea49-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645202284090-5e62b88d-1045-437b-b0f6-eecbaa66ea49-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/02\/1645202284090-5e62b88d-1045-437b-b0f6-eecbaa66ea49-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Chainlink partners with Fidelity and Sygnum to bring NAV data onchain for real-time access.<\/li>\n<li>The collaboration enhances transparency and efficiency in NAV reporting using blockchain.<\/li>\n<li>This initiative sets a new standard for asset management, highlighting DeFi\u2019s potential.<\/li>\n<\/ul>\n<p>In a groundbreaking move for the cryptocurrency and financial sectors, <a href=\"https:\/\/coinjournal.net\/chainlink\/what-is-chainlink\/\">Chainlink<\/a> has partnered with Fidelity International and Sygnum to bring Net Asset Value (NAV) data onchain.<\/p>\n<p>This strategic collaboration aims to leverage Chainlink\u2019s decentralized oracle technology to enhance the transparency and efficiency of NAV reporting, thereby setting a new standard for real-time data accessibility. It underscores the potential of blockchain to transform traditional financial systems and highlights Chainlink\u2019s growing influence in the industry.<\/p>\n<h2>Bringing NAV data onchain for real-time updates<\/h2>\n<p>NAV is a critical financial metric that calculates the value of a fund\u2019s assets minus its liabilities, divided by the number of shares outstanding.<\/p>\n<p>Traditionally, NAV data is updated at the end of each trading day, which can delay accurate investment reflections.<\/p>\n<p>The collaboration between Fidelity, Sygnum, and Chainlink aims to bringing NAV data onchain thus allowing for accurate real-time updates, offering a significant improvement over conventional methods. This will enhance transparency and efficiency for institutional investors.<\/p>\n<p>Fidelity\u2019s $6.9 billion Institutional Liquidity Fund will be the first to benefit from this innovative approach.<\/p>\n<p>Sygnum\u2019s clients will have access to this onchain data, aligning with Matter Labs\u2019 strategy to move treasury reserves onchain while continuing to invest in high-quality debt securities.<\/p>\n<p>By adopting blockchain technology, Fidelity and Sygnum demonstrate their commitment to innovation and their belief in the transformative potential of decentralized finance (DeFi).<\/p>\n<h2>Chainlink is setting a new standard in asset management<\/h2>\n<p>Chainlink\u2019s co-founder, Sergey Nazarov, emphasized that tokenized funds offer far greater efficiency benefits compared to traditional methods. He predicts that this approach will eventually become the norm in the asset management industry.<\/p>\n<p>The Depository Trust and Clearing Corporation (DTCC) has also recognized the potential of onchain NAV data.<\/p>\n<p>In a recent industry pilot using Chainlink\u2019s Cross-Chain Interoperability Protocol (CCIP), the DTCC explored extending its Mutual Fund Profile Service to include onchain NAV data. According to the <a href=\"https:\/\/www.dtcc.com\/dtcc-connection\/articles\/2024\/may\/16\/smart-nav-pilot-report-bringing-trusted-data-to-the-blockchain-ecosystem\">pilot report<\/a>, the pilot demonstrated that delivering structured data onchain could embed foundational data into numerous use cases, such as tokenized funds and smart contracts holding data for multiple funds.<\/p>\n<p>The partnership between Chainlink, Fidelity, and Sygnum marks a significant advancement in the integration of blockchain technology with traditional financial systems.<\/p>\n<p>By bringing NAV data onchain, this collaboration enhances transparency, efficiency, and data accuracy, potentially setting a new standard for the asset management industry and highlighting the transformative potential of decentralized finance.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/chainlink-teams-up-with-fidelity-and-sygnum-to-bring-nav-data-onchain\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Chainlink partners with Fidelity and Sygnum to bring NAV data onchain for real-time access. The collaboration enhances transparency and efficiency in NAV reporting using blockchain. This initiative sets a new standard for asset management, highlighting DeFi\u2019s potential. In a groundbreaking move [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":33510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33509"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33509"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33510"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}