Fidelity and Sygnum partner with Chainlink 09 July 2024Cayman Islands Reporter: Jack McRae
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Fidelity International and Sygnum have partnered with Chainlink to deliver net asset value (NAV) data onchain.
The collaboration will provide transparency and accessibility around key asset data for Fidelity’s institutional liquidity fund.
Sygnum tokenised US$50 million of Matter Labs’ company treasury reserves which are held in Fidelity’s money market fund. These were issued on the ZKsync blockchain, a member of the Chainlink SCALE program.
Fatmire Bekiri, head of Tokenization at Sygnum, says: “As we work to bridge the gap between traditional finance and the blockchain industry, setting standards is crucial for fostering ecosystem participation and strengthening collaboration across blockchain companies, regulated financial institutions, and asset managers.”
Sergey Nazarov, co-founder of Chainlink, adds: “Fund tokenisation is likely the largest digital asset trend happening today, and it is a large confirmation that global asset management firms are entering this growing market. The global reach and efficiency benefits of tokenised funds are far greater than traditional methods and will over time become the way the entire asset management industry operates.”
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