Chainlink announced a collaboration with Fidelity International and Sygnum to bring Net Asset Value (NAV) data onchain. In this landmark production use case for tokenized assets, the collaboration provides transparency and accessibility around key asset data for Sygnum’s recently issued onchain representation of Fidelity International’s $6.9 billion Institutional Liquidity Fund. Sygnum, a global digital asset banking group, tokenized $50 million of Matter Labs’ company treasury reserves. The reserves are held in Fidelity International’s money market fund and were issued on the ZKsync blockchain, a member of the Chainlink SCALE program.
NAV data is a critical building block that underpins the traditional fund industry today. With Chainlink, NAV data can be accurately reported and synchronized onchain in an automated and secure manner, providing real-time transparency and built-in access to historical data for Sygnum, its clients, and broader market participants. Beyond this use case, Chainlink also provides a chain-agnostic approach for disseminating NAV data, enabling the data to securely propagate across any blockchain or existing offchain system. The Chainlink Network goes far beyond onchain data delivery to meet the three requirements of tokenized assets, providing cross-chain interoperability as well as dynamic synchronization to power programmable assets that stay updated across any environment.
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,” said Fatmire Bekiri, Head of Tokenization at Sygnum. “This is an important milestone, and it’s exciting to see the great work that’s been done with Fidelity International, Chainlink, and Matter Labs come to fruition, and we look forward to keep building an onchain ecosystem in a regulated and compliant way.”
The announcement comes at a time when there is a growing desire for blockchain-native companies to receive their assets and NAV data onchain from fund managers like Fidelity International. With Chainlink, NAV data can be accurately and securely reported and updated onchain, as well as across any public or private blockchain.
Fund tokenization 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,” stated Sergey Nazarov, Co-founder of Chainlink. “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.”
About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. Our team enables this through our institutional-grade security, expert personal service and a portfolio of regulated digital asset banking, asset management, tokenization and B2B services.
In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg.
We believe that the future has heritage. Our crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that we call Future Finance. To learn more about how Sygnum’s mission and values are shaping this digital asset ecosystem, please visit www.sygnum.com.
Media Contact – Switzerland
Dominic Castley, CMO
dominic.castley@sygnum.com
Sygnum Bank AG,
Uetlibergstrasse 134a,
8045 Zurich, Switzerland
About Chainlink
Chainlink is the industry-standard infrastructure for the tokenized asset economy and has securely enabled over $12 trillion in transaction value and delivered more than 12 billion onchain data points across the blockchain ecosystem. Major market infrastructure providers and institutional banks such as Swift, DTCC, ANZ, and many others have collaborated with Chainlink to successfully demonstrate how financial institutions can use existing infrastructure and messaging standards to interact with tokenized assets across any blockchain.
About Fidelity International
Fidelity International offers investment solutions and services and retirement expertise to more than 2.90 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 countries and with $816.9 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals. Our Global Platform Solutions business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $583.8 billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures. Data as of 31 March 2024. Read more at fidelityinternational.com
This press release is for informational purposes only and contains statements about the future. There can be no assurance that actual results will not differ materially from those expressed in these statements, although we believe them to be based on reasonable assumptions. Interactions with blockchain networks create risks, including risks caused by user input errors. All statements are valid only as of the date first posted. These statements may not reflect future developments due to user feedback or later events and we may not update this post in response.
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