Chainlink (LINK) is experiencing a significant surge in value after successfully completing a pilot program with the Depository Trust and Clearing Corporation (DTCC) to tokenize funds. In an exciting development, the DTCC has launched a pilot program called Smart NAV, which combines their digital asset capabilities with Chainlink’s data feeding and interoperability services.

The primary purpose of Smart NAV is to provide trusted and verifiable data on various blockchain networks, thus supporting the use of this data in business workflows. In this partnership, DTCC acted as the provider and governor of the on-chain solution that stores the data, while Chainlink’s cross-chain interoperability protocol (CCIP) served as the interoperability layer.

The announcement of this collaboration has sent LINK’s value soaring. Within 24 hours, the digital asset’s price jumped from a low of $13.84 to $16.11, marking a 16.4% increase.

Chainlink’s CCIP offers traders a secure and efficient way to transfer tokens across blockchains. It also provides support for token minting and burning. With CCIP token transfers, protocols can quickly move tokens between chains, saving time and effort compared to building a custom solution. CCIP also includes audited token pool contracts that handle the complexity of burning/minting or locking/minting tokens across chains.

Established in 1999, the DTCC is a post-trade financial services firm that offers settlement services for various markets.

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