5 Trillion Dollar Investment Giant Forms Partnership with Altcoin!
In an exciting development, Chainlink has announced a collaboration with Fidelity International and cryptocurrency bank Sygnum. The partnership aims to bring transparency and accessibility to net asset value (NAV) data on tokenized assets.
With this collaboration, NAV data will now be accurately and securely reported and updated on-chain and across any public or private blockchain. This is a significant step towards providing on-chain NAV data for Fidelity International’s $6.9 billion money market fund.
Chainlink Co-Founder Sergey Nazarov believes that fund tokenization is the biggest digital asset trend happening today. He sees this partnership as confirmation that global asset management companies are entering this growing market. The global reach and efficiency benefits of tokenized funds are expected to surpass traditional methods, and over time, the entire asset management industry will adopt this approach.
As of now, LINK is being traded at $14.4, experiencing a decrease of 1.3% in the last 24 hours.
This collaboration between Chainlink, Fidelity International, and Sygnum is a landmark use case for tokenized assets. Investors can now access NAV data onchain for Fidelity International’s money market fund, providing greater transparency and security.
Please note that this article does not provide investment advice. To invest in over 300 cryptocurrencies, you can register with Binance exchange and enjoy a 20% commission discount.
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