The price of the Chainlink (LINK) cryptocurrency has increased by more than 18% after the successful completion of a pilot program with the Depository Trust and Clearing Corporation (DTCC). The program, known as Smart NAV, aims to simplify the tokenization of traditional financial funds, paving the way for wider adoption of blockchain technology.

DTCC, the world's largest securities settlement system, has partnered with Chainlink and several major US financial institutions to conduct the Smart NAV pilot.

At the end of the pilot program, the price of the LINK token rose more than 18%, exceeding $16 for the first time since April 12. At the time of writing, the token is trading at $16.5.