{"id":304001,"date":"2024-05-17T16:29:39","date_gmt":"2024-05-17T10:59:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=304001"},"modified":"2024-05-17T16:29:39","modified_gmt":"2024-05-17T10:59:39","slug":"dtcc-leverages-chainlink-for-smart-nav-pilot-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/dtcc-leverages-chainlink-for-smart-nav-pilot-crypto-news\/","title":{"rendered":"DTCC Leverages Chainlink for Smart NAV Pilot – Crypto News"},"content":{"rendered":"

<\/p>\n

The pilot program explored the feasibility of delivering mutual fund price and rate data using Chainlink\u2019s CCIP.<\/p>\n

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The Depository Trust & Clearing Corporation (DTCC) has released a report on its Smart NAV pilot, which evaluated the feasibility of distributing mutual fund Net Asset Value (NAV) data on blockchain networks.<\/p>\n

Smart NAV aimed to create a digital extension to DTCC\u2019s Mutual Fund Profile Service (MFPS I), the industry standard for disseminating price and rate data. The DTCC is an integral part of the U.S. financial system, providing clearing and settlement services since 1973.<\/p>\n

Smart NAV Mechanism<\/figcaption><\/figure>\n

The pilot, a collaborative effort between DTCC, oracle provider Chainlink, and ten major financial institutions, including JP Morgan and Franklin Templeton, aimed to determine whether NAV data \u2014 a critical component in fund valuation and transaction decision-making \u2014 could be standardized and automatically processed within a blockchain environment.<\/p>\n

Chainlink\u2019s LINK token soared nearly 20% after the report<\/a> was released.<\/p>\n

<\/p>\n

\"LINK
LINK Price<\/figcaption><\/figure>\n

<\/a><\/p>\n

With the increasing integration of blockchain in the financial sector, the Smart NAV pilot is a significant step in DTCC’s exploration of the technology. Its success could be pivotal in managing tokenized assets and simplifying processes for a wide array of financial contracts that rely on mutual fund data.<\/p>\n

The study comes as real-world assets (RWA) continue to gain traction across crypto, with the tokenized Treasuries sector exceeding $1.3 billion<\/a> in assets as of May 16.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The pilot program explored the feasibility of delivering mutual fund price and rate data using Chainlink\u2019s CCIP. The Depository Trust & Clearing Corporation (DTCC) has released a report on its Smart NAV pilot, which evaluated the feasibility of distributing mutual fund Net Asset Value (NAV) data on blockchain networks. Smart NAV aimed to create a […]<\/p>\n","protected":false},"author":2,"featured_media":304002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-304001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=304001"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304001\/revisions"}],"predecessor-version":[{"id":304006,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304001\/revisions\/304006"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/304002"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=304001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=304001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=304001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}