DTCC, Chainlink and several major US financial institutions complete pilot to accelerate fund tokenization

According to a report released on Thursday, the world's largest securities settlement system, the Depository Trust and Clearing Corporation (DTCC) has completed a pilot project with blockchain oracle Chainlink (LINK) and several major US financial institutions to help accelerate the tokenization of funds. The Smart NAV project aims to establish a standardized process for introducing and disseminating fund net asset value (NAV) data on almost all private or public blockchains using Chainlink's interoperability protocol CCIP. Market participants include American Century Investment Company, BNY Mellon, Edward Jones, Franklin Templeton, Jingshun, JPMorgan, MFS Investment Management, Mid-Atlantic Trust Company, State Street Bank and Trust, and Union Bank.