BlackRock led a $47 million strategic funding round for Securitize.
BlackRock, the world’s largest asset manager, led a $47 million strategic funding round for tokenization company Securitize.
Alternative investment management firms Hamilton Lane, ParaFi Capital and Tradeweb Markets also contributed to the round, according to a statement Wednesday. Joseph Chalom, BlackRock’s global head of strategic ecosystem partnerships, will also join Securitize’s board following the raise.
“At BlackRock, we believe tokenization has the potential to bring significant change to capital markets infrastructure. Our investment in Securitize is another step in advancing our digital asset strategy,” Chalom said in a statement. “We are excited to lead this investment round together with the other participants and drive innovation that will help us meet the future needs of our customers.”
Securitization and BUIDL
Securitize is a web3 company that tokenizes real-world assets (RWA). It has partnered with major players such as investment firms KKR and Hamilton Lane to provide tokenized exposure to their assets.
BlackRock launched a tokenized investment fund called the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) with Securitize in March of this year, The Block reported. Built on Ethereum, the fund invests in cash, US Treasury bonds and repurchase agreements and aims to provide investors with daily yield dividends by holding tokens on-chain, the company statement continues.
BUIDL recorded $160 million in inflows within its first week of launch and became the leading tokenization investment fund on May 30 after accumulating approximately $375 million in assets under management.
“Securitize has built a cutting-edge infrastructure to move existing assets onto high-speed, modern blockchain rails, increasing transparency, delivering instant settlements, reducing counterparty risk and increasing programmability,” said Ben Forman, ParaFi founder and managing partner. He said. .
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