This collaboration marks a significant advancement in the tokenization of assets, enhancing transparency and accessibility for Sygnum’s recent issuance of Fidelity International’s USD 6.9 billion Institutional Liquidity Fund on-chain. Sygnum, a digital asset banking group, has tokenized USD 50 million from Matter Labs' corporate treasury reserves, originally held in Fidelity International’s money market fund, using the ZKsync blockchain as part of Chainlink’s SCALE program.
NAV data is a crucial element supporting today’s traditional fund industry. Leveraging Chainlink’s technology, NAV data can now be accurately and securely reported and synchronised on-chain, offering real-time transparency and historical data access to Sygnum, its clients, and broader market participants. Beyond this initial implementation, Chainlink’s platform supports a chain-agnostic approach for distributing NAV data, ensuring secure propagation across various blockchains and existing off-chain systems. The Chainlink Network extends its capabilities beyond data delivery, providing cross-chain interoperability and dynamic synchronisation to empower programmable assets that remain updated across diverse environments.
The announcement responds to the increasing demand among blockchain-native companies for on-chain asset delivery and NAV data from established fund managers such as Fidelity International. Chainlink’s technology ensures accurate and secure reporting and updating of NAV data across public and private blockchains.
The collaboration signifies a convergence of traditional finance with blockchain innovation, demonstrating the transformative potential of integrating institutional assets onto decentralized platforms.
The regulatory landscape surrounding digital assets and tokenization is dynamic and continues to evolve globally. Traditional financial institutions, including Fidelity International, are increasingly navigating this landscape to leverage blockchain technology while adhering to regulatory requirements. Collaborations with blockchain firms like Chainlink and Sygnum are pivotal in this regard, as they strive to develop compliant solutions that meet regulatory standards.
Governments and regulatory bodies worldwide are grappling with how to regulate digital assets, which encompass a wide range of tokenized securities, cryptocurrencies, and other blockchain-based financial instruments. Key concerns include investor protection, AML compliance, market stability, and ensuring fair and transparent markets.
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