Value

Chainlink

Zero

On July 3, at the Point Zero Forum in Zurich, Chainlink revealed a collaboration with Fidelity International and Sygnum to integrate Net Asset Value (NAV) data into the blockchain. This partnership is set to advance the tokenization of assets and enhance the availability of essential asset information.&nbsp; 
The initiative will primarily focus on transferring the data of Fidelity International's Institutional Liquidity Fund, valued at $6.9 Billion and recently launched by Sygnum, onto the blockchain. Chainlink, a decentralized blockchain oracle network built on Ethereum took to X to share the collaboration news.&nbsp;
<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfOAwQqs6TKPGWYrZ4xXyIf7f7cPJ5SFhLeIP-KEGYIjwvY5BdIm1uRTI5lkdKkqH-h49Ln52vKmUfhnJrmGNKduLdPfUxsBy5ReWgd1TbfuBwR9i234rWI7GkbdORgI7Tc7XiQjg7rJ_G5DQXQUJmBBFM?key=thS7_A4E9PPZCVOZ-MFIfA" width="577" height="548">
Source: X
Chainlink (LINK) enables real-time, secure NAV data synchronization on the blockchain, offering transparency and historical access for Sygnum and its clients. It supports cross-chain data sharing and updates programmable assets across multiple environments.
Moreover, the news recorded a slight surge in LINK price. On July 3, the coin surged from $14.15 to $14.51 within a few hours, before dropping to $14.38. At the time of writing, LINK was hovering at $14.51, after a decline of 1.32% in a day with a market cap of $8,826,275,540 and 24-hour trading volume of $282,128,957.&nbsp;
Fatmire Bekiri, Sygnum’s Head of Tokenization appreciated the move and stated that it would bridge the gap between traditional finance and the <a href="https://www.coingabbar.com/en/crypto-currency-news/nigeria-plans-to-use-blockchain-and-ai" title="blockchain" class="f-link" rel="noopener noreferrer nofollow">blockchain</a> sector.
“The global reach and efficiency benefits of tokenized funds are far greater than traditional methods and will over time become the way the entire asset management industry operates”, Sergey Nazarov, Co-founder of Chainlink seconded.&nbsp;
The partnership will see the tokenization of assets trend strengthening. However, it is not the first time Chainlink has collaborated with firms to empower the blockchain industry.&nbsp; &nbsp;&nbsp;
<h3 id="span-span-data-font-font-size-style-font-size-16px-chainlink-s-other-collaborations-span-span">Chainlink’s Other Collaborations</h3>
Chainlink, the oracle network for blockchains, has formed a strategic collaboration with Swift, the global financial messaging service, to explore the integration of traditional financial messaging with emerging blockchain technologies. This partnership seeks to bridge the gap between Swift's established network and the advancing ecosystem of blockchain platforms.
Simultaneously, the Oracle network is developing its decentralized network across various blockchains, including <a href="https://www.coingabbar.com/en/crypto-currency-news/sec-requests-revisions-from-ethereum-etf-issuers" title="Ethereum" class="f-link" rel="noopener noreferrer nofollow">Ethereum</a>, Arbitrum, Polygon, and Base, marking its existence in nine key blockchains within the DeFi sector.
Similarly, ChainSwap, an innovative platform for cross-chain exchanges, has joined forces with Chainlink. By incorporating Chainlink's Cross-Chain Interoperability Protocol (CCIP), ChainSwap is enhancing its cross-chain transaction capabilities
<h4>Conclusion&nbsp;</h4>
Chainlink's partnership with Fidelity International and Sygnum is enhancing asset tokenization and blockchain interoperability, reinforcing its influence in the DeFi landscape. As Chainlink continues to expand its roots, it solidifies its role as a key enabler in the evolution of decentralized finance.
Also Read:&nbsp;<a href="https://www.coingabbar.com/en/crypto-currency-news/chainlink-link-developers-hint-towards-ai-token-pivot" title="Chainlink (LINK) Developers Hint towards AI Token Pivot?" class="f-link" rel="noopener noreferrer nofollow">Chainlink (LINK) Developers Hint towards AI Token Pivot?</a>

Chainlink, Fidelity, Sygnum Unite for Blockchain NAV; What to Expect?

Table of Contents

Coingabbar

Outros artigos publicados em 3 de jul. de 2024

Developers Shut Down Bittensor Blockchain Network After Security Breach

Crypto and AI: DEX.Guru Chatbots Integration Set to Revolutionise User Research Process

Ripple Intensifies Defense With New Submission In SEC Case

Why is Bittensor (TAO) Price Falling?

Top 5 Low-cap Layer 1 Altcoins To Focus on in 2024

Bitcoin Breaks 60,000 Dollar Support Level

Join our free newsletter for daily crypto updates!