TechFlow reports that the Depository Trust & Clearing Corporation (DTCC), the world's largest securities settlement system, has completed a pilot project with blockchain oracle Chainlink (LINK) and several major U.S. financial institutions to accelerate fund tokenization.
The project, named Smart NAV, aims to leverage Chainlink's interoperability protocol CCIP to establish a standardized process for creating and disseminating fund net asset value (NAV) data across nearly any private or public blockchain. Market participants include American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan Chase, MFS Investment Management, M&T Trust, State Street, and U.S. Bank.
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