Today, at Point Zero Forum in Zurich, Switzerland, Chainlink announced a collaboration with Fidelity International and Sygnum to bring net asset value (NAV) data for Fidelity International’s $6.9 billion Institutional Liquidity Fund onchain.
Sygnum, a global digital asset banking group, tokenized $50 million of Matter Labs’ company treasury reserves, which are held in Fidelity International’s money market fund and were issued on ZKsync, an Ethereum layer-2 and member of Chainlink SCALE, a program advancing blockchain and layer-2 ecosystems through enhanced access to Chainlink’s essential web3 infrastructure.
As the industry-standard decentralized computing platform, Chainlink has enabled over $12 trillion in transaction value and provides a comprehensive set of services that are critical for creating and securing tokenized real-world assets with unique onchain utility, such as fractionalization and programmability, through their entire life cycle across multiple blockchains.
“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,” said Chainlink co-founder Sergey Nazarov in an official announcement. “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.”
Earlier this year at Consensus, Nazarov told Nasdaq TradeTalks’ Jill Malandrino he believes interest in tokenization is at an all-time high and underscored the launch of BlackRock’s first tokenized fund as a watershed moment on the path toward reformatting the world’s value into a superior state onchain.
Fatmire Bekiri, Head of Tokenization at Sygnum, highlighted the collaboration with Fidelity International, Chainlink, and Matter Labs to securely deliver NAV data onchain via Chainlink’s chain-agnostic infrastructure as an important milestone in building a regulated and compliant onchain ecosystem.
“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,” she said.