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The Depository Trust & Clearing Corporation (DTCC), the world's largest settlement system, and blockchain oracle Chainlink have teamed up with several US banks to complete a pilot program with the goal of promoting the tokenization of traditional financial funds. The pilot program Smart NAV uses Chainlink's cross-chain interoperability protocol to provide a standardized method for fund net asset value data on the blockchain. The pilot found that by providing structured data on the chain and creating standard roles and processes, the underlying data can be embedded in many on-chain use cases, such as tokenized funds and "bulk consumer" smart contracts. These features can power "numerous downstream use cases" such as brokerage applications, more automated data dissemination, and easier access to historical data of funds. The pilot also helps to establish better automated data management, has limited impact on existing market practices of traditional financial institutions, enables customers to retrieve historical data without manual recording, and provides a wider range of API solutions for price data. What do you think of this pilot program? Welcome to share your views in the comment area!

The Depository Trust & Clearing Corporation (DTCC), the world's largest settlement system, and blockchain oracle Chainlink have teamed up with several US banks to complete a pilot program with the goal of promoting the tokenization of traditional financial funds. The pilot program Smart NAV uses Chainlink's cross-chain interoperability protocol to provide a standardized method for fund net asset value data on the blockchain. The pilot found that by providing structured data on the chain and creating standard roles and processes, the underlying data can be embedded in many on-chain use cases, such as tokenized funds and "bulk consumer" smart contracts. These features can power "numerous downstream use cases" such as brokerage applications, more automated data dissemination, and easier access to historical data of funds. The pilot also helps to establish better automated data management, has limited impact on existing market practices of traditional financial institutions, enables customers to retrieve historical data without manual recording, and provides a wider range of API solutions for price data. What do you think of this pilot program? Welcome to share your views in the comment area!

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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