Securitize taps Wormhole to boost cross-chain tokenization for institutional assets

Securitize taps Wormhole to boost cross-chain tokenization for institutional assets



Securitize has partnered with Wormhole Foundation to enable cross-chain interoperability for all assets tokenized on its platform, according to a Sept. 20 announcement.

The partnership will make Wormhole the official blockchain interoperability provider for Securitize’s current and future tokenized assets, marking a significant step forward in the tokenization and cross-chain interoperability of digital assets.

As a result, Securitize can connect its tokens to 32 blockchains available on Wormhole’s infrastructure, boosting its cross-chain features. The company is the tokenization infrastructure provider for institutions such as BlackRock and Hamilton Lane.

The collaboration aims to facilitate institutional adoption and bridge the gap between traditional and decentralized financial systems by allowing asset issuers using Securitize’s tokenization platform to seamlessly transfer tokens across various blockchain ecosystems.

Tokenmetrics

This is expected to enhance liquidity and accessibility for tokenized assets, offering investors greater flexibility in managing their digital assets across multiple blockchains.

Securitize co-founder and CEO Carlos Domingo emphasized that tokenized versions of real-world assets (RWA) must thrive on public, permissionless blockchains to fully realize blockchain technology’s potential.

Securitize plans to integrate its customized smart contracts with Wormhole’s secure, open-source interoperability platform, creating tailored solutions that meet the needs of specific asset managers and comply with regulations. Platform users can expect increased trust, flexibility, and legitimacy in cross-chain activities, which are underpinned by Securitize’s compliance expertise.

Wormhole Foundation co-founder and COO Robinson Burkey said the integration with a cross-chain messaging protocol paves the way for the institutional adoption of tokenized assets. He called it a “significant moment” for bridging traditional finance and DeFi.

An issue to be addressed

The tokenized US Treasuries market is commonly used to gauge the health of the RWA tokenization sector. According to RWA.xyz data, the market is currently sized at over $2.2 billion.

BlackRock’s tokenized fund, BUIDL accounts for a significant portion of the market cap with roughly $522 million is assets under management (AUM). All of BUIDL’s shares are deployed on the Ethereum blockchain.

Furthermore, funds such as TBILL, OUSG, and USDY are also deployed on Ethereum, representing a total of $1.6 billion in tokenized US Treasuries on the network.

Stellar holds the second largest market share due to hosting the the second-largest tokenized fund by market share, Franklin Templeton’s FOBXX, while Solana comes in third with $69.2 million in tokenized assets.

Mentioned in this article



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

CryptoKorner
Coinbase
CryptoKorner
Securitize taps Wormhole to boost cross-chain tokenization for institutional assets
Tokenmetrics
Paxful
Why Balaji Srinivasan says all property will become cryptography
Tea App That Claimed to Protect Women Exposes 72,000 IDs in Epic Security Fail
BlackRock’s $10B Ethereum ETF Surge Propels Snorter Token to New Heights
House recess over Epstein standoff stalls crypto policy push until September
Bitcoin, Stocks And Altcoins Move Toward New Houses
The AI Gig Economy Is Here—And It Pays in Crypto
bitcoin
ethereum
bnb
xrp
cardano
solana
dogecoin
polkadot
shiba-inu
dai
Free book
Paxful
EigenLayer Brings Multichain AVS Support to L2 Networks
BNB Hits New High, Meme Stocks Soar, ETH ETFs See Inflows: Binance Report
Bitcoin Price Reclaims $118K Liquidity as BTC Traders Hope For New Highs Next
Can Solana Hit $300 Again? Grok's Bold SOL Prediction
Can The Sector Find a New Life?
EigenLayer Brings Multichain AVS Support to L2 Networks
BNB Hits New High, Meme Stocks Soar, ETH ETFs See Inflows: Binance Report
Bitcoin Price Reclaims $118K Liquidity as BTC Traders Hope For New Highs Next
Can Solana Hit $300 Again? Grok's Bold SOL Prediction
ar
zh-CN
nl
en
fr
de
it
pt
ru
es
en
bitcoin
ethereum
xrp
tether
bnb
solana
usd-coin
dogecoin
staked-ether
tron
bitcoin
ethereum
xrp
tether
bnb
solana
usd-coin
dogecoin
staked-ether
tron