Fidelity International has launched its first tokenized fund, the Fidelity USD Digital Liquidity Fund, or FILQ, with Chainlink providing onchain net asset value and distribution data for the product. The fund is positioned as a digitally native liquidity vehicle for institutional investors seeking yield exposure from regulated, highly rated government securities while operating within 24/7 digital asset market infrastructure.
Fidelity Debuts Tokenized Liquidity Fund FILQ
Fidelity International, a global asset manager with more than $1 trillion in total client assets, has brought FILQ to market as its first tokenized fund. Chainlink said the product is designed to bring regulated yield-bearing liquidity into digital markets that operate continuously, with Sygnum providing tokenization infrastructure and access for eligible institutional clients.
LIVE: Fidelity International, a global asset manager with $1+ trillion total client assets, launches its first tokenized fund FILQ, powered by Chainlink.
Through onchain NAV, Chainlink is enabling Fidelity International to bring regulated yield-bearing liquidity into 24/7… pic.twitter.com/UOvs52neCR
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Sygnum describes FILQ as “the cash layer of on-chain capital markets,” intended to address the trade-off institutions often face between maintaining liquidity and earning yield. “Where traditional cash management forces a choice between yield and availability, FILQ addresses that constraint – investing in regulated government securities while remaining accessible around the clock with near-instant on-chain settlement,” Sygnum said in its product materials. “Built on institutional money market principles and delivered through digital asset infrastructure, FILQ combines the governance standards and credit quality of a regulated fund with the advantages of on-chain settlement: daily NAV transparency, Aaa-mf assessed underlying exposure and integration with digital asset ecosystem.”
The fund is assessed Aaa-mf by Moody’s and provides exposure to yield from regulated, highly rated government securities. Sygnum clients can access FILQ through Sygnum eBanking or via a relationship manager, while other eligible investors can register interest. The product is available to institutional investors that complete Sygnum onboarding, including KYC and AML checks, and the minimum initial investment is $100,000.
FILQ supports both accumulating and distributing token classes, allowing investors to choose between compounding growth through NAV appreciation or regular income flows. Sygnum’s materials state that yield is generated from investments in regulated, highly rated government securities, subject to market conditions. For distributing token classes, yield accrues daily and is paid monthly as dividends, with a constant NAV structure of one token to one U.S. dollar.
Emma Pecenicic, Head of Digital Assets Distribution at Fidelity International, framed the launch as part of a broader shift toward always-on market infrastructure. “There is no tokenised finance without tokenised liquidity. As markets move towards real time, always on settlement, financial infrastructure has to move with the same immediacy. We believe tokenisation is a foundational shift in how global financial markets will function, not a niche innovation.”
FILQ tokens are issued using the ERC-20 standard on Ethereum and operate under a permissioned model, meaning only approved wallets can transact. Access and ownership records are maintained by a transfer agent, while transactions are supported by smart contract-based controls. Sygnum said the structure combines blockchain-based settlement with established fund governance and operational oversight.
Chainlink Brings NAV Data Onchain for FILQ
Chainlink’s role in the launch centers on bringing NAV and distribution metrics onchain. The fund’s daily NAV is calculated at 22:00 CET and published shortly afterward, with Chainlink powering the NAV and key distribution data used for transparent pricing. J.P. Morgan provides approved daily NAV data, while Fidelity International acts as asset manager and issuer.
Chainlink said FILQ is being brought to market through a group of institutional and digital asset infrastructure providers: Fidelity International as asset manager and issuer, Sygnum for tokenization infrastructure, Chainlink for onchain NAV and distribution data, and J.P. Morgan for approved daily NAV data. The setup is designed to support 24/7 subscriptions across global time zones, while stablecoin settlement enables onchain workflows for subscriptions, redemptions and liquidity management.
Fernando Vazquez, President of Capital Markets at Chainlink Labs, said the launch reflects rising institutional use of tokenized asset infrastructure. “Fidelity International’s launch of FILQ, together with Sygnum, marks a pivotal moment for tokenized assets. By adopting Chainlink’s industry-standard platform to deliver verifiable, real-time NAV and distribution metrics, FILQ utilizes the tamper-proof transparency required to securely bridge traditional finance with the onchain economy, signaling the next phase of institutional adoption.”
The fund is designed for 24/7 subscriptions and redemptions through Sygnum once onboarding is complete. During market hours, listed as 02:00 to 22:00 CET from Monday to Friday, settlement is typically near-instant. Outside market hours, redemptions are supported through liquidity facilities, although transactions may be queued or subject to fees depending on conditions.
Sygnum Bank said the launch shows how tokenization is moving beyond experimentation into market infrastructure. “FILQ demonstrates how tokenisation is evolving from experimentation into scalable financial market infrastructure. By partnering with Fidelity International and infrastructure providers including Chainlink, Apex Group and J.P. Morgan, this launch shows how connected ecosystems can support regulated investment products in a more digital and always-accessible market environment.”
For institutional investors, the main distinction from a stablecoin is yield exposure. Sygnum states that stablecoins are primarily designed for price stability and settlement, while FILQ is structured as a digitally native liquidity fund that can remain usable in onchain workflows while providing exposure to money-market-style returns. That positioning places the product within the expanding market for tokenized real-world assets, where asset managers and infrastructure providers are building regulated instruments for blockchain-based settlement and treasury operations.
AI Transparency Note: This article was prepared with the assistance of an AI system based on the sources listed and was reviewed, edited, and approved by a human editor before publication. All quotes, data points, and factual claims are intended to be grounded in the cited source material; however, errors cannot be ruled out entirely.