Chainlink completed technology testing with US banking giants

The Depository Securities and Settlement Corporation (DTCC), the world's largest securities settlement system, has completed a pilot project with blockchain oracle Chainlink ($LINK ) and many major financial institutions in the US, aiming to supports the acceleration of tokenization of funds, according to a report published on Thursday by DTCC.

The purpose of the project called Smart NAV is to establish a standard process for posting and disseminating net asset value (NAV) data of funds on blockchains through the use of Chainlink's CCIP protocol. Project participants include Chainlink and major banks such as American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and U.S. Bank.

By completing the pilot project, DTCC “discovered that by providing structured data on-chain and creating standard roles and processes, the underlying data can be embedded into a variety of use cases. on-chain applications, such as tokenized funds and ‘mass consumer’ smart contracts, which are contracts that contain data for multiple funds.”

The pilot project takes place in a context where the tokenization of real assets (RWA) such as bonds, funds and other traditional investments has become one of the topics of interest. Many financial giants such as BlackRock, Citi and HSBC have joined to seek benefits such as operational efficiency, faster settlement and increased transparency compared to using traditional financial payment systems. .

No wonder why this LINK suddenly increased yesterday while the market was gloomy

If you want to interact with good traders, please contact me via zl O96. 357.. 73 l9

Wishing everyone a happy morning