Chainlink’s Value Surges Over 16% in a 24-Hour Period Following Successful Completion of Fund Tokenization Pilot with Prominent Securities Settlement Firm
Chainlink (LINK) is experiencing a significant surge in value following the successful completion of a fund tokenization pilot with the Depository Trust and Clearing Corporation (DTCC). In an exciting development, the DTCC has introduced a pilot program called Smart NAV, which utilizes both the firm’s digital asset capabilities and Chainlink’s data feeding and interoperability services. The main goal of Smart NAV is to provide trusted and verifiable data on blockchain networks to support various business workflows. The DTCC acted as the provider of the data and the governor of the on-chain solution, while Chainlink’s CCIP played a crucial role as the interoperability layer. This partnership has caused the value of LINK to soar by 16.4%, with the digital asset currently trading at $16.11. Chainlink’s CCIP enables secure and efficient token transfers across different blockchains, while also offering support for token minting and burning. This technology allows protocols to transfer tokens across chains in a fraction of the time it would take to develop a solution from scratch. The DTCC, established in 1999, is a leading post-trade financial services firm that specializes in settlement services for various markets.