Asset management titan BlackRock is leading a new fundraising round for Securitize, a US company focused on the tokenization of real-world assets.
According to a new one press releaseSecuritize has completed a $47 million funding round led by BlackRock, which has more than $10 trillion in assets under management and is the largest asset manager in the world.
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The investment includes the appointment of Joseph Chalom, BlackRock’s current global head of strategic ecosystem partnerships, to Securitize’s board of directors.
As Chalom states, according to the press release:
“At BlackRock, we believe that tokenization has the potential to drive significant transformation in capital markets infrastructure. Our investment in Securitize is another step in the evolution of our digital asset strategy.
We are pleased to lead this investment round together with other participants and help drive innovation that will help meet the future needs of our customers.”
The real-world tokenization of assets occurs when digital representations of tangible and intangible assets are embedded into blockchains to represent ownership. Examples of real-world assets that can be tokenized include real estate, money, contractual obligations, and art.
Other investors include stablecoin issuers Paxos and Circle, as well as Web3 blockchain company Aptos Labs.
In March last year, BlackRock CEO Larry Fink said that tokenization of asset classes “holds the prospect of increasing efficiency in capital markets, shortening value chains and improving costs and access for investors” and noting that the US is lagging with the rest. of the world in financial innovation.
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Featured image: Shutterstock/Vink Fan/Sensvector