DTCC and Chainlink Complete Pilot to Accelerate Fund Tokenization with Major Financial Institutions

The Depository Trust and Clearing Corporation (DTCC), Chainlink, and several prominent financial institutions, including JPMorgan, Templeton, and BNY Mellon, have successfully concluded a pilot project aimed at expediting the tokenization of funds.

DTCC, the largest securities settlement system globally, published a report on Thursday noting their collaboration with Chainlink, a blockchain oracle platform. This pilot, known as Smart NAV, sought to establish a standardized approach for bringing and disseminating net asset value (NAV) data of funds across various public or private blockchains, using Chainlink’s interoperability protocol CCIP.

Market participants in this initiative comprised well-known entities 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.