Fidelity International Partners with Others to Put NAV Data Onchain

Chainlink announced a collaboration with Fidelity International and Sygnum to bring Net Asset Value (NAV) data onchain according to a story in Markets Media news. In this landmark production use case for tokenized assets, the collaboration provides transparency and accessibility around key asset data for Sygnum’s recently issued onchain representation of Fidelity International’s $6.9 billion Institutional Liquidity Fund. Sygnum, a global digital asset banking group, tokenized $50 million of Matter Labs’ company treasury reserves. The reserves are held in Fidelity International’s money market fund and were issued on the ZKsync blockchain, a member of the Chainlink SCALE program. NAV data is a critical building block that underpins the traditional fund industry today. With Chainlink, NAV data can be accurately reported and synchronized onchain in an automated and secure manner, providing real-time transparency and built-in access to historical data for Sygnum, its clients, and broader market participants. Beyond this use case, Chainlink also provides a chain-agnostic approach for disseminating NAV data, enabling the data to securely propagate across any blockchain or existing offchain system. The Chainlink Network goes far beyond onchain data delivery to meet the three requirements of tokenized assets, providing cross-chain interoperability as well as dynamic synchronization to power programmable assets that stay updated across any environment.