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Blockchain reduces mutual fund transaction times significantly within 6 months post-implementation?
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Chainlink•DTCC•Smart NAV•JPMorgan•BNY Mellon•Franklin Templeton•State Street•Swift•BNP Paribas•Citi•ANZ Bank•Euroclear•Clearstream•Invesco•Edward Jones•US
Resolution / Starting Odds
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Research reports, financial news outlets, or statements from participating institutions
Story
Chainlink and DTCC Complete Smart NAV Pilot to Accelerate Fund Tokenization with Major Financial Institutions
May 16, 2024, 05:19 PM
Chainlink, in collaboration with The Depository Trust & Clearing Corporation (DTCC) and ten of the world's largest financial institutions, has successfully completed a Smart NAV industry pilot. The pilot aimed to deliver net asset value (NAV) data onchain, facilitating the tokenization of mutual funds. The DTCC, the world's largest securities depository, utilized Chainlink's Cross-Chain Interoperability Protocol (CCIP) to distribute fund pricing data across multiple blockchains. Key participants in this initiative included JPMorgan, BNY Mellon, Franklin Templeton, State Street, Swift, BNP Paribas, Citi, U.S. Bank, ANZ Bank, Euroclear, Clearstream, Invesco, Edward Jones, and other major US banks. The results of the pilot highlight the potential for Chainlink's technology to revolutionize capital markets by bringing them onchain.
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