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What will be the primary benefit cited for Fidelity and Sygnum's tokenization initiative by end of 2024?
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Fidelity International•Sygnum Bank•Chainlink•Net Asset Value•Institutional Liquidity Fund•Sygnum•Matter Labs•Fidelity
Resolution / Starting Odds
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Official announcements, press releases, or interviews from Fidelity International, Sygnum Bank, or Chainlink
Story
Fidelity and Sygnum Partner with Chainlink to Tokenize $6.9 Billion Fund, $50 Million Already Tokenized
Jul 3, 2024, 03:41 PM
Fidelity International and Sygnum Bank have partnered with Chainlink to bring Net Asset Value (NAV) data on-chain. This collaboration involves the tokenization of Fidelity International's $6.9 billion Institutional Liquidity Fund, with $50 million already tokenized on zkSync. The initiative aims to enhance transparency and accessibility for tokenized assets, marking a significant production use case for blockchain technology in traditional finance. The data will be securely and efficiently synchronized on-chain, providing advanced properties for financial products. Additionally, Sygnum has tokenized $50 million of Matter Labs' treasury reserves, held in Fidelity's fund.
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