Specifically Sygnum’s recently issued onchain representation of $50 million Matter Labs’ treasury reserves held in Fidelity’s $6.9 billion Institutional Liquidity Fund, the partnership aims to provide transparency and accessibility for NAV data in tokenized assets, according to a Wednesday statement.

Chainlink stated in the statement that, as a member of Chainlink’s SCALE program, their technology enables the safe storage and automated synchronization of NAV data for these currencies on the ZKsync blockchain.

“With Chainlink, NAV data can be accurately reported and synchronized onchain in an automated and secure manner, providing real-time transparency and built-in access to historical data for Sygnum, its clients, and broader market participants,” the press statement noted.

Chainlink also mentioned that their chain-agnostic method facilitates safe data distribution among several blockchain systems or offchain architectures.

Sergey Nazarov, co-founder of Chainlink, said, “Fund tokenization is likely the largest digital asset trend happening today, and it is a huge confirmation that global asset management firms are entering this expanding market… The global reach and efficiency benefits of tokenized funds are far greater than traditional methods and will, over time, become the way the entire asset management industry operates.”

In May, Smart NAV, the Depository Trust and Clearing Corporation, and Chainlink worked with market players like BNY Mellon, JPMorgan, and Invesco. Smart Nav looked at methods to distribute NAV data across several blockchains consistently.

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