Chainlink SmartData is adopted by M^0 for on-chain NAV data to support M stablecoin

January 13 news, M^0 has adopted Chainlink infrastructure on Ethereum to provide Net Asset Value (NAV) data for its "decentralized" stablecoin M. By leveraging Chainlink's SmartData asset service solution suite, they are "increasing the transparency of $M".

It is reported that M is a substitutable token that can be generated by "locking eligible collateral in secure off-chain facilities". By integrating Chainlink SmartData, it is now possible to "accurately and securely access on-chain net asset value data".