Fidelity, Sygnum and Chainlink collaborate to put NAV data on the blockchain

BlockBeats reports that on July 3, according to The Block, Chainlink announced a collaboration with Fidelity International and crypto bank Sygnum to launch a project focused on bringing net asset value data onto the blockchain.

According to a statement released on Wednesday, this partnership aims to provide transparency and accessibility for net asset value (NAV) data in tokenized assets. This will allow the NAV data of Fidelity's $6.9 billion institutional liquidity fund to be accessed in real time on the blockchain. Chainlink stated that its technology helps securely store and automatically sync these tokens' NAV data on the ZKsync blockchain, which is part of Chainlink's SCALE program.