BlackRock-backed Securitize expands tokenization with $589M Wormhole protocol
Securitize strengthens integration with Wormhole
The tokenization platform for real-world assets, backed by BlackRock, has announced deeper integration with the Wormhole interoperability protocol.
In September 2024, Securitize revealed plans to utilize Wormhole’s technology for cross-chain messaging for asset managers. Now, Wormhole is set to become the primary solution for Securitize’s inter-network connectivity.
“This allows our clients’ tokenized assets, such as BUIDL BlackRock, to seamlessly scale across new networks, further enhancing access and liquidity for investors,” commented Securitize co-founder and CEO Carlos Domingo.
This integration means clients can now easily transfer assets tokenized on the Securitize platform across multiple blockchains, including Ethereum, Arbitrum, Avalanche, Optimism, and Polygon.
Promising partnerships
Despite Wormhole ranking 128th in market capitalization at $589 million, its major partnerships include Google Cloud, Circle, chip manufacturer AMD, and decentralized platform Uniswap.Wormhole also facilitates cross-chain token exchanges for stablecoin issuers Agora and Transfero, liquidity provider Flow Traders, DeFi platform Infinex, and restaking service Nuffle Labs.
Securitize is BlackRock's partner in developing the BlackRock USD Digital Liquidity Institutional Fund, focused on tokenizing real-world assets. Last May, BlackRock led a $47 million funding round for Securitize, with participation from Hamilton Lane, ParaFi Capital, and Tradeweb.
As we wrote, asset management giant BlackRock is advocating for a rule change in its spot Bitcoin ETF, iShares Bitcoin Trust, to enable in-kind redemptions instead of cash-only settlements.
