According to an article published on Sept. 20, Securitize partnered with Wormhole Foundation in order to provide cross-chain compatibility for assets tokenized through its platform. announcement.
Wormhole becomes the official blockchain-interoperability provider to Securitize for its current and upcoming tokenized assets. The partnership represents a huge step in tokenization, and interoperability across chains of digital assets.
Securitize is now able to link its tokens across 32 blockchains on Wormhole’s infrastructure. This enhances its cross-chain functionality. This company provides tokenization services to institutions like BlackRock Hamilton Lane.
The goal of the collaboration is to bridge the traditional and decentralized divide and facilitate institution-wide adoption. financial Securitize’s platform for tokenization allows asset issuers to transfer tokens seamlessly across different blockchain ecosystems.
Investors will have more flexibility to manage their digital assets on multiple blockchains.
Carlos Domingo, CEO and co-founder of Securitize, said that to maximize the potential of blockchain technology it is essential for tokenized versions (TWAs) of real world assets to thrive on permissionless public blockchains.
Securitize will integrate Wormhole’s open, secure smart contract platform with its own customized smart contracts.source Interoperability platform that creates customized solutions for asset managers to comply with regulatory requirements and meet their needs. Users can expect to see increased flexibility and trust in the cross-chain activity, backed by Securitize’s expertise.
Robinson Burkey is the Wormhole Foundation COO, and he co-founded the foundation. Burkey says that integration with the cross-chain message protocol opens the door for institutions to adopt tokenized assets. He described it as “significant moment” The bridge between traditional finance (traditional banking) and DeFi.
The issue that needs to be addressed
To gauge the RWA sector’s health, the tokenized US Treasury market is often used. RWA.xyz says dataMarket size currently exceeds $2.2 Billion.
BUIDL is BlackRock’s tokenized asset management fund. It has $522m in AUM. BUIDL is a tokenized fund that has all of its shares deployed on the Ethereum blockchain.
Moreover, funds like TBILL (tokenized US Treasury bonds), OUSG and USDY have also been deployed on Ethereum. This represents a total $1.6 billion of tokenized US Treasuries.
Stellar has the second highest market share because it hosts the second biggest tokenized funds by market share. Franklin Templeton’s FOBXX is the leader, followed by Solana with tokenized assets worth $69.2 millions.
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Source: cryptoslate.com