BlackRock (BLK), the largest asset management globally, led a $47 million fundraising round for Securitize, a company that tokenizes real-world assets (RWAs).
Hamilton Lane (HLNE), ParaFi Capital, and Tradeweb Markets (TW) were among the other investors in the round, Securitize said on Wednesday. Securitize intends to utilise the money to intensify its attempts to digitise capital markets through the usage of blockchain technology.
The BlackRock USD Institutional Digital Liquidity Fund, which was established last month by BlackRock and Securitize, may be targeted towards RWA tokenization, which is the process of creating tokens that represent real-world assets like stocks, bonds, and real estate and trading them on a blockchain.
Joseph Chalom, BlackRock’s global head of strategic ecosystem partnerships, will join the Securitize board of directors as part of the company’s investment.