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DTCC, CHAINLINK COMPLETE FUND TOKENIZATION PILOT WITH JPMORGAN, TEMPLETON AND
OTHER FINANCIAL GIANTS PARTICIPATING

by Tyler Durden
Friday, May 17, 2024 - 09:40 AM

By Tom Mitchelhill of CoinTelegraph

The world’s largest settlement system, the Depository Trust and Clearing
Corporation (DTCC), and blockchain oracle Chainlink have wrapped up a pilot
program with several major banking firms in the United States to increase
traditional finance fund tokenization.



1
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Galaxy Digital Tokenizes 316-Year-Old Violin to Back Loan
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Galaxy Digital Tokenizes 316-Year-Old Violin to Back Loan



The Smart NAV Pilot program was conducted to standardize a method of providing
net asset value (NAV) data of funds across blockchains using Chainlink’s
Cross-Chain Interoperability Protocol (CCIP), according to a May 16 DTCC report.

“The pilot found that by delivering structured data on-chain and creating
standard roles and processes, foundational data could be embedded into a
multitude of on-chain use cases, such as tokenized funds and ‘bulk consumer’
smart contracts, which are contracts that hold data for multiple funds,” it
wrote.

These capabilities could support future industry exploration, as well as
powering “numerous downstream use cases” like brokerage applications, more
automated data dissemination and easier access to historical data for funds, it
said.

The pilot helped establish better-automated data management, limited impact on
existing market practices for traditional financial institutions, enabled
clients to retrieve historical data without manual record keeping and provided
broader application programming interface (API) solutions for price data, the
DTCC’s report noted.



The United States banking firms that participated in the pilot include American
Century Investments, BNY Mellon, Edward Jones, Franklin Templeton, Invesco,
JPMorgan, MFS Investment Management, Mid Atlantic Trust, State Street and U.S.
Bank.





LINK has gained over 130% in the last 12 months amid a broader uptick in the
crypto market.

The DTCC report comes amid wider enthusiasm for real-world asset tokenization
from major traditional financial institutions.

On March 19, BlackRock launched a tokenized money market fund dubbed BUIDL on
the Ethereum network, offering native U.S. dollar yields.

The fund allows investors to purchase tokens representing shares in the fund,
which invests in assets like U.S. Treasury bills. The fund is referred to as the
“digital liquidity fund” because it is digitized on the Ethereum blockchain and
operates as an ERC-20 token called BUIDL.

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NVDA > SEMIS > SOFTWARE


NVDA beating its own record

Below is 10 day rolling average of NVDA vs. Semis (SOX) ... we can see that NVDA
has outperformed the SOX by ~21pts over the last 10 days, the biggest such
stretch of (10 day) outperformance dating back to 2017.



 

--------------------------------------------------------------------------------


SOMETHING IS REALLY CHANGING


India - emerging market for a reason

Macro trades keep on imploding left right and center. Yesterday we pointed out
that something was happening in cross-asset macro, and that we did not like the
smell of it. That trend continues today. First out, the darling macro trade of
late, Sensex, is puking, putting in a massive down candle. Note we touched the
200 day almost.



 

--------------------------------------------------------------------------------


SUDDENLY THESE 2000 COMPARISONS ARE BACK IN VOGUE AGAIN


Popular chart crime

NVDA since May 2016 when Alphabet CEO Sundar Pichai first formally referred to
the company as a leader in an “AI first world” compared to the performance of
CSCO starting in February 1992 when America Online had its IPO. As shown, both
stocks had insane and strikingly similar runs in the eight years following each
of those events. 



 

--------------------------------------------------------------------------------


SHORTS IN HIBERNATION


The evaporated short

The SPX notional short is at its most subdued point since 2014...



 

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