Fidelity, Sygnum, and Chainlink Tokenize $6.9B in Assets, Boosting Blockchain Integration in Finance
July 4, 2024
Fidelity International and Sygnum partner with Chainlink to tokenize $6.9 billion worth of asset data from Fidelity’s Institutional Liquidity Fund.
The collaboration brings real-time Net Asset Value (NAV) data on-chain for tokenized assets.
Sygnum will represent Fidelity's fund on the zkSync Blockchain, using Chainlink's decentralized oracle technology for accurate updates.
The integration ensures cross-chain interoperability and synchronization, bridging traditional finance with blockchain.
The partnership has led to a 2% increase in Chainlink's token (LINK) price, reflecting market optimism.
Despite rising institutional interest in LINK, its price remains stable.
Chainlink co-founder Sergey Nazarov predicts a future shift towards complete tokenization of value, revolutionizing asset management with blockchain technology.
Summary based on 5 sources
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Sources
Cointelegraph • Jul 3, 2024
Fidelity, Sygnum partner with Chainlink to bring NAV data onchain
BeInCrypto • Jul 3, 2024
Tokenization Trend: Chainlink and Fidelity Brings $6.9 Billion Fund Data On-Chain
The Block • Jul 3, 2024
Fidelity, Sygnum partner with Chainlink to bring NAV data onchain
CryptoSlate • Jul 3, 2024
Chainlink to handle on-chain NAV for Sygnum's $50 million tokenized Matter Labs treasury