DTCC completes pilot project with Chainlink and several major U.S. financial institutions to accelerate fund tokenization

According to ChainCatcher news and a report released on Thursday by CoinDesk, the world's largest securities settlement system, the Depository Trust & Clearing Corporation (DTCC), has completed a pilot project with the blockchain oracle Chainlink (LINK) and several major financial institutions in the United States, aimed at accelerating the tokenization of funds.

The goal of the Smart NAV project is to establish a standardized process for introducing and disseminating fund net asset value (NAV) data across almost all private or public blockchains using Chainlink's interoperability protocol CCIP.

Market participants reportedly include American Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco, JPMorgan, MFS Investment Management, Mid-Atlantic Trust Company, State Street Bank, and U.S. Bank.