SkyBridge to tokenize $300 million in assets on Avalanche
According to Fortune, Anthony Scaramucci announced that his investment firm SkyBridge Capital plans to tokenize $300 million worth of assets from two of its funds on the Avalanche blockchain.
One of these two funds invests directly in cryptocurrencies such as Bitcoin, and the other in various venture and crypto funds.
According to Scaramucci, the amount the company plans to tokenize is around 10% of SkyBridge Capital’s assets under management.As is well known, the former Goldman Sachs executive has supported Bitcoin for many years, stating that BTC could someday reach $700,000.
SkyBridge Capital aims to stay on trend
Scaramucci’s involvement in crypto investments began at least in 2020, when the company invested around $182 million in Bitcoin on behalf of its funds. Shortly after that announcement, the firm launched the SkyBridge Bitcoin Fund LP to provide qualified investors with access to BTC.
At one point, SkyBridge was closely linked to the now-bankrupt exchange FTX. Scaramucci also worked briefly for President Donald Trump.
SkyBridge’s shift toward tokenization is part of a broader movement among financial institutions, with both traditional and crypto firms seeking to tokenize real-world assets such as treasury bills, loans, publicly traded stocks, mineral rights, and real estate.
Asset tokenization involves linking easily tradable and transferable digital tokens to real-world assets. Avalanche, a smart contract–based alternative blockchain project, is popular among projects focused on real-world assets.
As we wrote, Anthony Scaramucci predicts U.S. pro-crypto regulation within 10 months
Latest Avalanche News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
