Chainlink and Fidelity Team Up to Bring NAV Data On-Chain

IconCryptoNewsTerminal Staff02 Jul, 2024

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Chainlink and Fidelity Team Up to Bring NAV Data On-Chain

Chainlink (LINK), a leading provider of oracle services, has partnered with Fidelity International and crypto custodian SigNum to bring net asset value (NAV) data on-chain. This collaboration aims to enhance the transparency and accessibility of financial data for decentralized finance (DeFi) applications. The integration of NAV data into Chainlink's oracle network will provide DeFi protocols with a reliable source of information to support the calculation and settlement of derivatives, structured products, and other financial instruments. By leveraging Chainlink's decentralized oracle infrastructure, DeFi applications can access accurate and up-to-date NAV data without relying on centralized intermediaries. This partnership marks a significant step in bridging the gap between traditional finance and the rapidly evolving DeFi ecosystem. By bringing NAV data on-chain, Chainlink and Fidelity are empowering DeFi developers to create innovative financial products and services that are both transparent and accessible to a wider range of users.

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