As a seasoned crypto investor with a keen interest in digital securities, I find the recent $47 million strategic funding round led by BlackRock for Securitize truly exciting. This investment is yet another testament to the growing recognition and acceptance of digital assets by traditional financial institutions.
Securitize, a digital securities platform, announced the closure of a $47 million strategic funding round with BlackRock leading the investment. Notable participants included blockchain developers Aptos Labs and Paxos, as well as stablecoin issuer Circle.
The funds raised during this round will be allocated towards advancing our product, expanding into new markets worldwide, and enhancing collaborations within the financial services industry, according to Securitize’s announcement.
Joseph Chalom, the top executive for strategic partnerships at BlackRock’s global division, has been announced as a new member of the Securitize board of directors. In his own words, this investment is part of an ongoing progression in BlackRock’s digital assets strategy to cater to the upcoming requirements of their clients.
BlackRock teamed up with Securitize for the role of transfer agent, tokenization platform, and placement agent during the debut of their first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which took place on the Ethereum blockchain in March.
BUIDL allocates funds in cash, US Treasury bills, and repurchase agreements, generating daily dividends payable in the form of tokens valued consistently at $1 monthly. Holders of BUIDL can swap their shares for USD Coin (USDC) stablecoins by transferring them to Circle.
As an analyst, I’ve observed that in just over a month since its inception, BUIDL has managed to accumulate a market capitalization of $375 million, making it the largest tokenized treasury fund available. This surpasses the Franklin OnChain U.S. Government Money Fund (BENJI) by a modest margin of $7 million. The current value of funds locked in tokenized U.S. treasuries and bonds is an impressive $1.28 billion, as reported on RWA.xyz.
As a crypto investor, I’ve been following the developments of Hamilton Lane, a reputable investment manager that has partnered with Securitize since 2022. Recently, I’m thrilled to learn that they joined forces with ParaFi Capital and Tradeweb Markets in contributing to a fundraise. Moreover, Mo Shaikh, the visionary co-founder and CEO of Aptos Labs, shared this exciting news with CryptoMoon.
“Aptos Labs is […] a key participant in closing the gap between traditional finance and open finance in a very real and globally accessible way. With leaders like BlackRock and pioneers like Securitize at the helm, there’s no doubt that a significant piece of the future of finance will play out onchain.”
Securitize holds registrations with the Securities and Exchange Commission (SEC) as both a broker-dealer and transfer agent, making it eligible to buy and sell securities on behalf of clients, as well as facilitate the transfer of ownership of these securities. Additionally, Securitize is an affiliated member of FINRA, adhering to the organization’s regulatory framework aimed at maintaining fair and honest trading practices within the financial industry.
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2024-05-01 21:16