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Superstate, an asset management firm, integrated Chainlink’s infrastructure into its Superstate Short Duration US Government Securities Fund (USTB). This strategic partnership is designed to enhance the transparency and utility of USTB, a tokenized treasury fund, according to a press release shared with BSCN.
Robert Leshner, CEO and Co-founder of Superstate, emphasized the importance of reliable on-chain data for the tokenized asset market. He stated:
"Asset tokenization enhances efficiency, programmability, and transparency but requires reliable on-chain data to unlock DeFi and automation use cases. Our integration with Chainlink ensures transparent data for our investors, allowing us to focus more on our core business."
By leveraging Chainlink's decentralized oracle technology, Superstate can now bring real-time net asset value (NAV) data on-chain, a crucial step toward advancing the utility and transparency of tokenized assets.
The Role of Chainlink in the Integration
Chainlink will allow NAV data for the USTB tokenized fund to be securely brought on-chain. NAV data is critical in determining the value of both traditional and tokenized funds.
For USTB, this data is calculated off-chain by NAV Fund Services and Superstate, and then it is securely reported on-chain through Chainlink’s infrastructure. This process ensures that the data is accurate, transparent, and available in real-time for investors and other market participants.
Enhancing Transparency with Chainlink's Proof of Reserve
In the coming months, Superstate plans to further integrate Chainlink's Proof of Reserve (PoR) technology.
PoR is a powerful tool that provides on-chain verification of assets under management (AUM) data. This technology allows investors to independently verify the collateralization of the assets backing the USTB fund, enhancing trust and security.
Chainlink’s Expanding Role in the Tokenized Asset Economy
Chainlink's collaboration with Superstate is part of its broader strategy to support the growth of the tokenized asset economy.
For instance, recently, 21Shares US LLC, an affiliate of 21Shares AG, integrated Chainlink’s Proof of Reserve on Ethereum’s mainnet to enhance the transparency of its Core Ethereum ETF (CETH). This integration provides clear visibility into the Ethereum reserves backing the ETF, boosting investor confidence.
Similarly, last July, Bancolombia Group-backed Wenia, Columbia’s largest bank, partnered with Chainlink to enhance the transparency and security of its stablecoin, COPW, by integrating Chainlink’s PoR technology.