The Depository Trust and Clearing Corporation (DTCC), the world’s largest securities settlement system, completed a pilot project with blockchain oracle Chainlink (LINK) and multiple major U.S. financial institutions, aiming to help accelerate the tokenization of funds, according to a Thursday report published by DTCC.
The purpose of project called Smart NAV was to establish a standardized process to bring and disseminate net asset value (NAV) data of funds across virtually any private or public blockchains using Chainlink’s interoperability protocol CCIP. Market participants included American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and U.S. Bank.
- Chainlink Expands to Bitcoin, Helping Original Blockchain With Its Layer-2 Shift
- Tether Launches New Digital Asset Backed by Tether Gold
- FriendTech’s Token Launches For Trading Alongside Airdrop Claims & Version 2 Rollout
- VanEck Launches $30M Fund to Support Innovation in Fintech, Crypto and AI
- Crypto.com Aims for 2025 Launch of Own Stablecoin, ETF Listings, Stocks, and US Expansion
- MetaMask Now Lets Users Check if They Are Eligible For Airdrops and NFT Claims