Karen Scarbrough’s Post

Fidelity International 🤝 J.P. Morgan ✅ Another step into tokenization as last week Fidelity International announced they tokenized shares in a money market fund (MMF) using J.P. Morgan’s Ethereum-based private blockchain network, Onyx Digital Assets. ➡ Keerthi Moudgal, Head of product at Onyx Digital Assets, noted that Fidelity's participation in TCN simplifies the use of their MMF units as collateral and brings new benefits. ➡ Stephen Whyman, Head of debt capital markets at Fidelity International, emphasized that tokenizing their money market fund shares improves efficiency, reduces costs, and lowers risks for clients and the financial system. As we advance, more and more institutions are driving the push towards tokenization. Both Franklin Templeton and BlackRock have tokenized funds. ✅ Franklin recently enabled USDC to USD conversions for investments and announced its fund last April. ✅ BlackRock launched its BUIDL tokenized fund with Securitize earlier this year. Read the full articles here: 👇 https://lnkd.in/eDK4bejT https://lnkd.in/eMDn5XZz #institutions #tokenization #digitalassets

Digital custody is the key element in the growth market for crypto and digital assets!    In 2022, over USD 400 billion in assets were held in crypto custody worldwide by exchanges or trading venue providers, with growth expected to exceed USD 1.6 trillion by 2028. This holds considerable market and growth potential, which has its origins in the crypto sector but is evolving through #tokenization. 📈    Curious about my take on digital #custody and want to gain more insights based on our institutional custody offering at Boerse Stuttgart Digital? Together with more than 20 leading industry experts and Fincite - Wealth Management Software, we have created the #WealthTech Radar 2024 to provide a clear overview of the most relevant trends in wealth management and the accelerating digitalization of the industry.    How will we invest in the future? Which asset classes offer the most potential, and what regulatory updates will be relevant to the industry in 2024? Find out more by downloading the radar using the links in the comments. Available in English and German.👇    Many thanks to Fincite - Wealth Management Software and Christian Paulus for the opportunity to contribute to this project!    #bsdigital #WealthTechRadar #digitalfinance #crypto #digitalassets #blockchain #WTR2024

Tokenization: The Future of Asset Ownership Beyond ETFs Today a large chunk of the world’s wealth is locked in illiquid assets or in assets that cannot be quickly monetized when needed. In a survey conducted in the U.S. in 1997, 56%+ of assets held by taxpayers with a net-worth of between $600,000 and $1 million were illiquid. All else being equal, illiquid assets typically trade at a discount vs. liquid assets.” These assets are characterized by higher transaction costs, poor price discovery and information asymmetry around demand and supply. Exchange-Traded Funds (ETFs) have come a long way since the first U.S. listing in 1993. For the following decades, the financial industry has leveraged innovative tools like ETFs and Real Estate Investment Trusts (REITs) to fractionalize ownership of traditionally illiquid assets like real estate or to track prices of baskets of assets such as stocks and bonds. While these vehicles have democratized investing to some extent, they come with limitations. Tokenization, enabled by blockchain technology, aims to resolve some of these issues by offering a more dynamic, transparent, and efficient way to own and trade assets. #tokenization #ETF #assetmanagement #realestate

Navigating the New Era: BNY Mellon's Crypto Custody Milestone 🚀 In a groundbreaking move, BNY Mellon has become the first bank to receive an exemption from the SEC’s Staff Accounting Bulletin No. 121, setting a precedent for the integration of traditional banking with cryptocurrency services. This landmark decision allows BNY Mellon to include Bitcoin and other digital assets in its institutional custody services, signaling a significant shift in regulatory attitudes towards traditional financial institutions engaging in digital asset custody. This exemption not only underscores BNY Mellon's role as a pioneer but also opens doors for other traditional banks, potentially transforming the landscape of institutional participation in the crypto market. With regulatory barriers lowering, we might see an increase in the number of traditional financial entities entering the crypto space, enhancing the overall maturity of the market. As BNY Mellon leads the charge, the implications for the broader financial ecosystem are profound. This development is a testament to the evolving nature of financial services where traditional and digital assets coexist, offering more integrated solutions for investors and institutions. What does this mean for the future of banking and crypto integration? Could this be the tipping point for widespread institutional adoption of cryptocurrencies? Explore how Semoto is facilitating these evolving needs by connecting businesses with top-tier blockchain and crypto service providers. Dive deeper into the future of finance at semoto.io. #CryptoCustody #DigitalAssets

The Depository Trust & Clearing Corporation (DTCC) Chainlink Complete Pilot to Accelerate Fund Tokenization with JPMorgan Chase & Co. Franklin Templeton BNY Mellon Participating. The aim of the Smart NAV pilot was to test a process to bring and disseminate fund data on multiple blockchains, a key step for tokenization. #fintech #blockchain #cryptoledger #investment #finserv

⚫The Depository Trust and Clearing Corporation (DTCC) and Chainlink(Network provider of web3) recently completed a pilot project with JPMorgan, Templeton, and BNY Mellon to Accelerate Fund Tokenization. ⚫The project, known as Smart NAV, aimed to standardize the process of bringing and disseminating net asset value (NAV) data of funds across various blockchains using Chainlink's CCIP interoperability protocol. ⚫This initiative sets the stage for future opportunities in brokerage portfolio applications, management, and real-time access to historical data. Exciting developments lie ahead in the realm of fund tokenization! #DTCC #Chainlink #Blockchain #FundTokenization #Innovation #fintech #investment

📣 News: Sygnum Bank and Fidelity International Partner With Chainlink To Provide Fund NAV Data Onchain Today at Point Zero Forum, Chainlink announces a collaboration with Fidelity International and Sygnum Bank to bring Net Asset Value (NAV) data onchain. In this landmark production use case for tokenized assets, the collaboration provides transparency and accessibility around key asset data for Sygnum Bank’s recently issued onchain representation of Fidelity International’s $6.9 billion Institutional Liquidity Fund. “As we work to bridge the gap between traditional finance and the blockchain industry, setting standards is crucial for fostering ecosystem participation and strengthening collaboration across blockchain companies, regulated financial institutions, and asset managers,” said Fatmire Bekiri, Head of Tokenization at Sygnum Bank. “This is an important milestone, and it’s exciting to see the great work that’s been done with Fidelity International, Chainlink, and Matter Labs come to fruition, and we look forward to keep building an onchain ecosystem in a regulated and compliant way." Read the full announcement here: https://lnkd.in/eszBpdJ7 Sygnum Bank: Fatmire Bekiri, Thomas Eichenberger, Pascal Gisel, Jordan Ruiz, Iman Bartoli, Luca Fumagalli, Dom Castley MBA MCIM, Jennifer Aubrecht, Mathias Imbach Chainlink Fidelity International: Emmanuelle Pecenicic, Ben Brophy #blockchain #DeFi #FutureFinance Disclaimer: https://bit.ly/4edJA1v

🌎 Discover how our cutting-edge #tokenization solutions can drive high ‘liquidity’ in private equity #capital markets and revolutionize the #real estate sector. ✅ Sign up now to learn more about our #services and unleash the power of #digitization. #blockchain #web3 #infrastructure #digital #stocks #bonds #blackrock #buidl #defi #dex #tokenzlabs

The Power of Blockchain at BNY Mellon 🚀 As a leading financial institution, BNY Mellon has embraced the disruptive potential of blockchain technology, paving the way for groundbreaking innovations in the banking and finance sector. Let me walk you through their remarkable journey: 🔹 Streamlining Operations: BNY Mellon leveraged blockchain to enhance operational efficiency, reducing settlement times and minimizing risks associated with traditional processes. 🔹 Improved Transparency: The immutable and decentralized nature of blockchain-enabled greater transparency, fostering trust among stakeholders and ensuring secure record-keeping. 🔹 Cross-Border Payments: By implementing blockchain-based solutions, BNY Mellon facilitated faster and more cost-effective cross-border payments, revolutionizing international transactions. 🔹 Asset Tokenization: Exploring the tokenization of traditional assets on the blockchain, BNY Mellon opened up new avenues for trading and investing, unlocking liquidity and accessibility. 🔹 Regulatory Compliance: Blockchain's tamper-proof architecture and smart contract capabilities allowed BNY Mellon to enhance compliance measures, mitigating risks and ensuring adherence to evolving regulations. BNY Mellon's embrace of blockchain technology has positioned them as a trailblazer in the industry, setting the stage for a more secure, transparent, and efficient financial ecosystem. Intrigued by the transformative power of blockchain in banking and finance? Explore career opportunities at https://ipbindia.com/ and be part of the revolution! 💥 #BNYMellon #blockchain #financialinnovation #fintech #banking #technology #digitaltransformation #careeropportunities

The divide between TradFi and the digital asset ecosystem continues to shrink. This was quite apparent at #DigitalAssets Connection 2024 and the #Women in #DigitalAssets Forum last week in Stamford CT. Growth in tokenization, stablecoins, and ETFs remain at the forefront. My homework is to take a closer look at The Depository Trust & Clearing Corporation (DTCC)’s recent white paper on the framework for adoption. Also enjoyed hearing about the varying approaches taken by WisdomTree and digital asset management firm Arrington Capital, as well as thoughts on convergence of technology by Franklin Templeton, Grayscale Investments, and Coinbase Asset Management. Lots of great insights were shared by Kadena, Ava Labs, Invesco US, CoinShares, KPMG US, TaxBit, Lukka, Hedera and many others. Big thanks to Global Blockchain Business Council (GBBC)’s Lynne Marlor, TABB Group’s Bruce Morris, Global Digital Asset & Cryptocurrency Association’s Renata K. Szkoda and the rest of the team for bringing it all together!