Sygnum
1,926 views
5 Posts
Hot
Latest
Chainlink announces the partnership with Fidelity and Sygnum
#Chainlink collaborates with #FidelityInternational and crypto bank #Sygnum on a project aimed at bringing net asset value data on-chain. The partnership aims to increase transparency and accessibility for NAV data in tokenized assets specifically Sygnum's recently represented $50 million Matter Labs’ treasury reserves on-chain, held in Fidelity's $6.9 billion Institutional Liquidity Fund.
Chainlink is a decentralized blockchain oracle network built on #Ethereum , intended to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts.
👉 x.com/chainlink/status/1808382101999264050
#Chainlink collaborates with #FidelityInternational and crypto bank #Sygnum on a project aimed at bringing net asset value data on-chain. The partnership aims to increase transparency and accessibility for NAV data in tokenized assets specifically Sygnum's recently represented $50 million Matter Labs’ treasury reserves on-chain, held in Fidelity's $6.9 billion Institutional Liquidity Fund.
Chainlink is a decentralized blockchain oracle network built on #Ethereum , intended to facilitate the transfer of tamper-proof data from off-chain sources to on-chain smart contracts.
👉 x.com/chainlink/status/1808382101999264050
#Write2earn
Chainlink Gains Traction with Traditional Financial Institutions
#Chainlink #Link #RWA #Sygnum $LINK
Key Collaboration:
Sygnum Partnership: On July 3, digital asset bank Sygnum announced a collaboration with Chainlink and Fidelity International to bring Net Asset Value (NAV) data on-chain.
Supporting Fidelity's Fund:
NAV Integration: The NAV data will support Sygnum’s tokenized offering of Fidelity International's Institutional Liquidity Fund, which holds $6.9 billion in AAA-rated assets. Matter Labs invested $50 million in this fund via Sygnum in March.
Bridging TradFi and Blockchain:
Standards and Collaboration: Sygnum’s head of tokenization, Fatmire Bekiri, emphasized setting standards for collaboration across blockchain firms and traditional financial institutions. Chainlink developed a method for broadcasting NAV data across any blockchain.
Growing TradFi Adoption:
DTCC Pilot: Despite a 2.4% drop in Chainlink's LINK token, Chainlink's adoption among tradfi institutions is growing. In May, the DTCC, with Chainlink and 10 major financial institutions, conducted a pilot to distribute NAV data for mutual funds on blockchains.
Chainlink’s Role in Tokenization:
Interoperability Protocol: Chainlink’s CCIP is key in tokenization pilots by major financial institutions like BNY Mellon, Citi, BNP Paribas, ANZ Bank, Lloyds Banking Group, and SIX Digital Exchange.
Future of Fund Tokenization:
Market Impact: Sergey Nazarov, Chainlink Co-founder, stated that tokenized funds offer global reach and efficiency, transforming asset management. The tokenized U.S. treasuries, bonds, and cash equivalents market cap reached $1.77 billion, a 120% growth in 2024.
Conclusion:
Chainlink's NAV data provision and cross-chain interoperability are pivotal in the growing trend of asset tokenization among traditional financial institutions, shaping the future of asset management.
Chainlink Gains Traction with Traditional Financial Institutions
#Chainlink #Link #RWA #Sygnum $LINK
Key Collaboration:
Sygnum Partnership: On July 3, digital asset bank Sygnum announced a collaboration with Chainlink and Fidelity International to bring Net Asset Value (NAV) data on-chain.
Supporting Fidelity's Fund:
NAV Integration: The NAV data will support Sygnum’s tokenized offering of Fidelity International's Institutional Liquidity Fund, which holds $6.9 billion in AAA-rated assets. Matter Labs invested $50 million in this fund via Sygnum in March.
Bridging TradFi and Blockchain:
Standards and Collaboration: Sygnum’s head of tokenization, Fatmire Bekiri, emphasized setting standards for collaboration across blockchain firms and traditional financial institutions. Chainlink developed a method for broadcasting NAV data across any blockchain.
Growing TradFi Adoption:
DTCC Pilot: Despite a 2.4% drop in Chainlink's LINK token, Chainlink's adoption among tradfi institutions is growing. In May, the DTCC, with Chainlink and 10 major financial institutions, conducted a pilot to distribute NAV data for mutual funds on blockchains.
Chainlink’s Role in Tokenization:
Interoperability Protocol: Chainlink’s CCIP is key in tokenization pilots by major financial institutions like BNY Mellon, Citi, BNP Paribas, ANZ Bank, Lloyds Banking Group, and SIX Digital Exchange.
Future of Fund Tokenization:
Market Impact: Sergey Nazarov, Chainlink Co-founder, stated that tokenized funds offer global reach and efficiency, transforming asset management. The tokenized U.S. treasuries, bonds, and cash equivalents market cap reached $1.77 billion, a 120% growth in 2024.
Conclusion:
Chainlink's NAV data provision and cross-chain interoperability are pivotal in the growing trend of asset tokenization among traditional financial institutions, shaping the future of asset management.
Swiss Post’s #financial services arm, #Postfinance , partners with #crypto #bank #Sygnum to provide digital asset products and services.
https://news.bitcoin.com/swiss-state-owned-banking-giant-postfinance-to-offer-crypto-services/
https://news.bitcoin.com/swiss-state-owned-banking-giant-postfinance-to-offer-crypto-services/
⚡ Safe partners with Sygnum Bank and Coincover on a crypto recovery service
Safe, an on-chain custody protocol, has teamed up with Sygnum Bank and Coincover to launch an optional crypto recovery service. RecoveryHub users will be able to restore their access to crypto assets via designated “recoverers,” including personal backup devices, family members, friends, or other collaborators for social recovery. Moreover, Sygnum Bank and Coincover will offer a more formal recovery process.
#safe #Gnosis #Sygnum #bank $GNO #custody
Safe, an on-chain custody protocol, has teamed up with Sygnum Bank and Coincover to launch an optional crypto recovery service. RecoveryHub users will be able to restore their access to crypto assets via designated “recoverers,” including personal backup devices, family members, friends, or other collaborators for social recovery. Moreover, Sygnum Bank and Coincover will offer a more formal recovery process.
#safe #Gnosis #Sygnum #bank $GNO #custody
