DTCC, the leading post-trade services provider in the U.S., has introduced a new trial program using Chainlink technology to provide real-time financial data to numerous market players.

Known as Smart NAV, this initiative expands DTCC's Mutual Fund Profile Service I by delivering on-chain price and rate data. The program involves DTCC and ten major financial institutions exploring the dissemination of net asset value (NAV) data across blockchain networks.

Through the pilot, DTCC gathers and converts data from fund operators, transmitting it to a Chainlink-based platform for distribution across various blockchain networks. This collaboration aims to automate data dissemination, enhance historical data access, and facilitate experimentation with asset management adjustments.

The pilot underscores the potential for structured on-chain data to fuel a range of financial use cases, including tokenized funds, brokerage portfolio applications, and more. Leveraging Chainlink's Cross-Chain Interoperability Protocol (CCIP), the initiative highlights CCIP's role as a bridge between DTCC systems and diverse blockchain networks, streamlining data integration.

Following the announcement, Chainlink's LINK token surged by 19.4%, reaching its highest trading volume in six weeks.