Chainlink (LINK) experienced a significant price surge, increasing by over 18% after the successful completion of a pilot program with the Depository Trust and Clearing Corporation (DTCC). The pilot, named Smart NAV, aims to streamline the tokenization of traditional finance funds, paving the way for wider institutional adoption of blockchain technology.
The DTCC, the largest securities settlement system globally, collaborated with Chainlink and major U.S. financial institutions to conduct the Smart NAV pilot. The project aimed to establish a standardized process for delivering and disseminating net asset value (NAV) data of funds across both private and public blockchains using Chainlink’s interoperability protocol, CCIP.
The completion of the pilot demonstrated that structured data could effectively be delivered on-chain and embedded into various on-chain use cases, such as tokenized funds and bulk consumer smart contracts. This innovation could power future industry explorations and operational processes, offering benefits like enhanced efficiency, faster settlements, and increased transparency.
The news of the pilot’s success caused Chainlink’s LINK token to rise by more than 18%, surpassing $16 for the first time since April 12. Currently, the token is trading at $16.5, with a daily trading volume slightly over $1 billion, marking a 195.4% increase in the last 24 hours.
The pilot is part of a larger trend of tokenizing real-world assets (RWA) like bonds, funds, and traditional investments. Tokenization, a popular application of blockchain technology, has attracted financial heavyweights seeking operational efficiencies, faster settlements, and improved transparency compared to traditional financial systems.
Prominent financial institutions, including American Century Investments, BNY Mellon, JPMorgan, and State Street, participated in the Smart NAV project. The initiative aims to provide trusted, verifiable data across blockchain networks to support business workflows. DTCC served as the data provider and governor of the on-chain solution, while Chainlink’s CCIP acted as the interoperability layer.