Sygnum, Fidelity, and Chainlink have joined forces to bring Net Asset Value (NAV) data onchain, as announced at the Point Zero Forum in Zurich. This partnership signifies a significant step towards asset tokenization and accessibility of crucial asset data.
The focus is on representing Fidelity International’s $6.9 billion Institutional Liquidity Fund, recently issued by Sygnum, on the blockchain. Sygnum has already tokenized $50 million of Matter Labs’ company treasury reserves, which are held in Fidelity’s International money market fund and issued on the ZKsync blockchain.
The accurate reporting and synchronization of NAV data onchain through Chainlink’s technology provides real-time transparency and access to historical data for Sygnum, its clients, and the wider market participants. This is a significant development in the traditional fund industry, as NAV data can now be secured and automatically reported onchain.
Chainlink’s “chain-agnostic approach” enables the dissemination of NAV data across any blockchain or existing offchain systems. Sergey Nazarov, Co-founder of Chainlink, emphasized the importance of this partnership, stating that fund tokenization is a significant trend in the digital asset market.
The collaboration between Chainlink, Fidelity International, and Sygnum signals a strengthening trend in asset tokenization. This deal sets a new standard for integrating traditional finance with blockchain technology, paving the way for a more interconnected and efficient financial ecosystem.